France, Italy have higher debt than Ukraine, IMF says
European Union economic powerhouses France and Italy carry higher debt-to-GDP ratios than Ukraine, according to new International Monetary Fund (IMF) data.
Finance
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Half of EU consumers fooled by ‘sustainable’ financial labels
More than half of everyday investors in the European Union are being misled by financial products labelled as “sustainable”, new data show.
Volkswagen Group posts €1 billion loss for third quarter
Volkswagen Group, Germany’s biggest vehicle manufacturer, lost €1.07 billion between July and September, according to an earnings release.
Swiss bank creates stir by charging customers 3 per cent negative interest
Swiss bank Postfinance has shocked investors with news of a 3 per cent negative annual interest rate on certain types of deposits.
Maritime sanctions against Russia have backfired badly
If an uninsured Russian rust-bucket goes down off your coast causing massive environmental damage and loss of life, it will be easy to point the finger of blame.
Belgian Government on the brink over budget crisis
Belgium’s ruling centre-right coalition is deadlocked over crucial budget negotiations, with senior government figures suggesting its collapse is now a real possibility.
Digital euro ‘seeks to solve nonexistent problem’
European banks are pushing back against plans for a digital version of the euro, warning they are being asked to cover the costs of the European Central Bank’s…
The euro is a ‘decaying currency’, Orbán is smart to stay out
When Hungarian Prime Minister Viktor Orbán declared that Hungary should refuse the euro—because the European Union itself is "disintegrating"—he was being anything…
Even with free gas, net zero policies would drive up UK energy bills, say experts
Bosses from the largest UK energy suppliers say "green" policies are so costly that bills would go up for consumers even if it were free.
Nestle says to cut 16,000 jobs worldwide over next two years
Nestle, the Swiss food giant whose brands include Nespresso coffee and Perrier water, will eliminate 16,000 jobs worldwide over the next two years, its new chief…
Belgium calculates US tariffs will cost €4 billion but Belgians may not be the ones paying
A new analysis by Belgium’s economy ministry puts a price tag on US President Donald Trump’s tariffs on Belgian exports at more than €4 billion this year.
Corporate bankruptcies in Germany hit 12-year-high
The number of companies sliding into insolvency in Germany rose by 10.4 per cent in September compared to the year before, according to preliminary data.
Flotilla activists welcomed home as heroes upon return
Activists from several international flotillas aiming to deliver aid to Gaza have been arriving home after being detained by Israeli forces.
Can Merz survive the (latest) coalition from Hell?
The serial travails of the dying Macron presidency may be dominating the headlines, but the profound dysfunction of Germany’s coalition government holds its own…
Suicide and ‘insider trade gain’ rock crypto scene as flash crash bankrupts thousands
The sudden drop in price of cryptocurrencies such as Bitcoin and Ethereum has shaken markets and reportedly bankrupted thousands of crypto investors.
Trump suggests Spain be expelled from NATO over low defense spending
President Donald Trump suggested on October 9 that Spain be expelled from NATO over its failure to match the higher defense spending requirement he has engineered.
European auditors warn of ongoing EU spending errors and rising debt
The European Court of Auditors (ECA) has again raised concerns over European Union spending.
Work until 73 to save pension system, German experts warn
According to the German Council of Economic Experts, the retirement age should be raised to 73 to keep the country's social security system from collapsing.
Swedish Government pauses debt office’s ‘green’ guarantees for 2026
Sweden is pulling its guarantees for "green" credits in 2026, only limiting itself to already signed agreements.
More EU defence, but where is the money?
The European Union’s schoolmarm in chief, Ursula von der Leyen, has called her unruly charges together this week in Copenhagen, where she will rap knuckles and…
ECB U-turn: Defence spending ‘now good for growth’
Defence spending can help growth if done correctly, according to the European Central Bank (ECB).
Paris debt spiralling out of control, says auditors’ report
A new report by the Court of Auditors has eviscerated the Paris city management over the French capital's financial straits.
Stellantis shuts down production in European plants due to weak demand
European car giant Stellantis will pause production in its European factories as it continues to struggle with poor sales.
French public TV in ‘critical financial situation’, warns the Court of Auditors
France Télévisions, the public broadcaster, is in "a critical financial situation that requires without delay structural reforms that have been postponed until…
Italy overtakes France in market confidence as bond yields converge
For the first time in modern eurozone history, Italy is borrowing on terms as favourable as France, signalling a remarkable reversal in investor perceptions.
Labour shortage meets unemployment: EU wants more cash and more training
Europe has millions of job openings but also millions of people still out of work, the European Commission said.
The EU sanctions on Russia have had no effect on Putin’s economy
Eighteen! That’s the number of sanction packages which have been passed on Russia by the European Union since the expansion of the Russo-Ukrainian War in 2022.
Switzerland’s biggest bank UBS threatens to shift HQ to US
Switzerland’s biggest bank says new rules at home could push it abroad.
German SDP wants to jack up estate taxes for families
Germany’s Social Democratic Party (SPD) is pushing for more tax revenue from estate taxes.
Renewed euro crisis? French debt at €3.3 trillion must be focusing minds in Frankfurt
Engineers know that system stability requires a capacity to manage unexpected accidents.