Draghi: ‘Europe must change perspective or risk servitude’
Former European Central Bank (ECB) president Mario Draghi has warned about "servitude" towards other economies at his first public meeting since the publication…
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Draghi offers the EU a future of the Good, the Very Bad and the Dead Ugly
Note: This comment originally appeared on September 12 in our weekly newsletter Signal Berlaymont
Italy’s president says need to bring down public debt is “inescapable”
Italy's president said there was an "inescapable need" to bring down the country's mammoth public debt, but warned on Friday that markets' perception was a "questionable"…
Hungary borrowed 1 bln euros from Chinese banks in April
Hungary borrowed €1 billion from Chinese banks in April to finance infrastructure and energy projects, government debt agency AKK said on Thursday.
EC launches Excessive Deficit Procedure against seven Member States
Seven European Union Member States are under special scrutiny for accumulating increased public debt and deficits.
IMF: French public debt to be ‘significantly higher than government forecasts’
The International Monetary Fund has challenged the French Government's projections on future public debt, estimating that the country will end up running a significantly…
Bundesbank chief opposes joint EU borrowing beyond NextGenEU
Germany’s central bank chief voiced doubts over the need for joint European Union debt issuance.
Heavy regulatory burden weighing on EU productivity: S&P
The European Central Bank has been congratulating itself too soon on a soft landing over the Eurozone inflation crisis, according to US financial analysis major…
European Council adopts fiscal reform with new rules for budgets and debts
The European Council has adopted three pieces of legislation designed to reform the European Union’s economic and fiscal governance framework.
Head of EU’s EIB lending arm calls for spending cap to be scrapped
The head of the European Union's EIB lending arm has called on the bloc's member states to scrap a spending cap currently imposed on the development bank.
Europe’s debt is rising again as politics erodes budget resolve
Some of Europe’s most indebted governments are heading for a painful reckoning this year as their ambitions to cut down on borrowing collide with political reality.
EC set to target Poland over excessive debt, Warsaw warns
The Polish finance ministry said it expected the European Commission to initiate a so-called excessive deficit procedure (EDP) against the country.
‘Opaque’ EU debt mountain growing, German study warns
“EU debt is politically attractive. Economically, however, it creates the wrong incentives, especially for highly indebted Member States,” researchers say
Belgium ‘risks becoming Greece on the North Sea’, warns national bank chief
The Governor of the National Bank of Belgium says debt seriously threatens the economy.
EU looks to take pressure off Member States over debt
European Union Member States and MEPs have struck a preliminary deal to ease the bloc's stringent fiscal rules, giving governments more time to reduce debt and incentives…
EU insurance regulation is not working, it needs an overhaul – says Ireland’s former Europe Minister
The handling of an inquiry into motor insurers in Bulgaria and Romania raises serious questions for the European Commission and the EU's regulators, writes Ireland's…
Belgium led by ’emperor with no clothes’ as it joins Club Med
Belgium has managed to break into the so-called "Club Med" - Mediterranean countries with higher government debt to GDP ratios - and has surpassed Portugal in such…
Meloni and EC at loggerheads over ESM ‘austerity weapon’
After vetoing reforms to the Eurozone bailout fund, Italian Prime Minister Giorgia Meloni has challenged its managing director, Pierre Gramegna, to find a “better…
Europe’s capital facing sinkhole, sewage problem as debt explodes
Brussels is in danger of drowning in its own filth while sinkholes erupt across the city like a spotty teen’s chin.
EU budget clampdown risks ‘economic and democratic suicide’ Green Group leader warns
Splits in the pro-EU European Parliament coalition are emerging after the Green Group broke ranks to oppose the bloc's proposed budget reforms.
Sleeping with the enemy? Green MEP chief not averse to siding with hard-right against EU austerity
The Greens in the assembly will not automatically align themselves in opposition to the hard-right Identity and Democracy group, said Philippe Lamberts
Bitter pill: EU faces possible €465 million hit for empty London offices
This year alone the EU is liable to take a £27 million (€31.
Meloni sees Italy growing faster than EU partners this year
Prime Minister Giorgia Meloni said she sees scope for Italy’s economy to grow faster than the European Union average this year, and looked forward to likely interest…
EU strikes fiscal rules deal with gradual path to cut debt
European Union finance chiefs ended months of wrangling over fiscal rigour to agree on new rules that will aim to rein in debt and define the bloc’s ability to…
Just seven Member States meet EU budget rules
Only seven of the European Union's 27 Member States have budgets that meet the bloc's financial probity guidelines, according to the European Commission.
‘A challenging year’: EU cuts own growth forecast for 2023
The European Union has cut its own growth forecast for 2023, blaming the downward revision on a combination of persistently high inflation and weak external demand.
IMF warns Europe: rising wages are bad for you
Rising wages may still push prices upwards, meaning Europe faces a "difficult task" in aiming at both price stability and growth, says the IMF.
Stagnant growth and high debt leave Italy’s Meloni few economic tools
Italy has recorded no GDP growth for the third quarter.
Euro zone recession fears harden as surveys show grim start to Q4
The downturn in eurozone business activity accelerated last month as demand in the dominant services industry weakened further, a survey showed on Monday, suggesting…
Italy unveils tax-cutting 2024 budget amid debt worries
Italy's government on Monday approved a budget for next year with measures worth around 24 billion euros in tax cuts and increased spending, despite market concerns…