Polish public debt exceeds EU’s 60% GDP limit
The rising debt in Poland has been driven by one of the fastest growing budget deficits in the EU.
Economy
Latest reporting and analysis on economy.
US and Iran reach deal to end war and reopen Strait of Hormuz
"The Deal with the Islamic Republic of Iran is now complete," Trump announced.
EU finance ministers back EIB drive to fund defence and energy
The bank's Board of Governors, made up of the finance ministers of the 27 member states, approved the strategy at their annual meeting.
Aviation industry urges Brussels to drop carbon market plan for global flights
"In the current geopolitical context, extending the EU ETS beyond intra-EEA flights will likely provoke an even stronger international backlash than in 2012".
Spanish defence firms offer to build new fighter after FCAS collapse
The companies said prolonged uncertainty threatened not only their own expertise and resources but also the stability of their partners and supply chains.
ECB raises rates for first time since 2023
From June 17, the deposit facility rate rises to 2.25 per cent, the main refinancing rate to 2.40 per cent and the marginal lending rate to 2.65 per cent.
Trump threatens to seize Iran’s Kharg Island and take ‘total control’ of its oil
The US Navy has imposed a blockade on Iranian ports that has sharply reduced exports.
Belgium cracks down on radical climate activists
Several activists were taken into custody for questioning, with at least some remaining in detention.
Council and Parliament strike deal on ETS2 Market Stability Reserve ahead of 2028 launch
The deal aims to provide greater price stability, particularly to combat sharp price spikes, and predictability for the controversial system.
EU strikes deal to cut red tape for defence investment and procurement
National law could still allow exceptions to automatic approval where there was a serious risk to human health or national security.
Brussels seeks to mobilise €25 billion for Mediterranean renewables push
The EC said the scheme, named the T-MED, would help deliver 15 gigawatts of new renewable capacity.
EU raises €8 billion in bond sale as investor demand tops €160 billion
The sale formed part of a €100 billion funding target set by Brussels for the first half of 2026.
Binding CO2 minimum price risks undermining EU green goals, warns leading think tank
“Intervening into one market creates the need for complementary interventions in others,” the study notes.
EU moves to freeze Russian oil price cap to deny Moscow a windfall
The European Union, alongside the G7 and Australia, has capped the price of Russian oil since December 2022.
Von der Leyen’s €1.4 billion Bauhaus struggles to leave its mark as new festival opens
This year's programme has placed affordable housing and what the Commission calls democratic engagement at its centre.
Seven EU countries reject weaker car emissions rules
The Commission is due to review its CO2 standards for cars and vans and has signalled it would give hybrids and renewable fuels a bigger role beyond 2035.
German auto giants face deepening crisis as global rivals pull ahead
The German's challenge is combined by a broader slowdown across the global automotive sector.
Nine EU governments resist Brussels plan to electrify company fleets
The issue is due to be discussed at a meeting of EU transport ministers in Luxembourg on June 8.
EU talks on tobacco taxation hit a Swedish brick wall
Brussels wants to keep those taxes for its own budget and it is aiming for several billion euros in revenues.
Italian deputies back nuclear power return in boost for Meloni government
The framework provides for an independent Nuclear Safety Authority and a National Programme for Sustainable Nuclear Power.
European firms flee Cuba as US sanctions deadline bites
A wave of departures and suspended operations in recent weeks suggested the warning had worked.
Putin acknowledges contacts with Trump administration over Cuba
"Cuba is a friendly country. Our relations have developed over decades, and the US administration is aware of this".
Illicit tobacco trade surges across Europe as high taxes feed black markets
Countries with the highest taxes and strictest regulations are suffering the most severe black-market problems.
Andorra adds business and union bodies to EU association pact
The country, a microstate of about 80,000 people in the Pyrenees between France and Spain, is not an EU member.
Leading German Union wants to take 10 per cent of assets of the ‘super rich’
Germany faces significant budgetary challenges, including high energy costs, defence spending needs, and the costs of the green transition.
Tata Steel sacks ‘turncoat’ sustainability chief after one day over pro-apartheid past
Business director Jessica Mahn has taken over his responsibilities on an interim basis.
Bulgaria faces EU deficit procedure months after joining euro
The country's deficit reached 3.5 per cent of gross domestic product (GDP) last year, above the 3 per cent ceiling set for euro members.
Russia bans jet fuel exports until November
Supplies to countries that maintain active intergovernmental agreements with Russia are exempt from the restriction.
France lands record €93 billion in foreign investment
"This edition of Choose France alone will make it possible to crystallise a record amount of €93 billion in confirmed investments, for more than 15,000 jobs,"…
Tusk government hurriedly signs scores of contracts funded from EU’s defence loan
The contracts followed the government signing an agreement for Poland to borrow €43.7 billion from the €150 billion SAFE programme.