Euro Area

Timeline of a crisis: Europe’s economic strategy from 2008 to today
At the outset of the economic crisis in 2008, the EU mirrored the rescue packages seen in the US and elsewhere. In total, more than €1.6 trillion was used to save the banks and €200 billion to keep the European economies afloat.

INFOGRAPHIC: Who are the EU summit champions?
The EU summit today (7 March) will be the 101st for Jean-Claude Juncker, as premier of Luxembourg and president of the European Commission. Second comes German Chancellor Angela Merkel, with 66 summits Third is Donald Tusk, with 57 summits as premier of Poland and president of the European Council.

Tsipras forced to back down on anti-austerity plan
Est. 5minThe Greek government has caved to the demands of its creditors and abandoned plans for a "parallel programme" of counter-austerity measures. Our partner La Tribune reports.

Brussels ready to give France budget leeway for security
Est. 3minThe European Union said on Tuesday (17 November) it was ready to take French security priorities into account after France said it was likely to break eurozone deficit rules due to the Paris attacks.

Finnish parliament will debate leaving eurozone next year
Est. 3minIn 2016, Finland's parliament will debate whether to quit the euro, a senior parliamentary official said on Monday (16 November).

EU ‘brains’ warn about end of free capital markets by 2030
Est. 5minEurope faces daunting years ahead, according to a report by the European Strategy and Policy Analysis System (ESPAS), which looks at major global developments until 2030.

Report: Greek crisis damaged EMU in non-eurozone states
Est. 4minThe Greek crisis that kept politicians busy in the summer of 2015 has fuelled particularly negative sentiments among business leaders from the non-eurozone countries, according to a report by Deloitte published today (16 November).

OECD disagrees with Commission over Spain’s financial outlook
Est. 3minThe Spanish economics minister, Luis de Guindos, announced yesterday (9 November) that the OECD expects Spain to meet its fiscal-discipline objectives this year and next, as does the government itself. EURACTIV's partner EFE reports.

Germany’s Schäuble and Weidmann on collision course over migrants
Est. 4minGermany needs to send a message to the world that it is reaching the limit of its capacity to help Europe's flood of migrants, German Finance Minister Wolfgang Schäuble said on Sunday - while the head of the Bundesbank said the country can handle the costs of the refugee crisis without risking its balanced budget.

Commission defends role as sole guardian of fiscal discipline
Est. 5minAmid growing concerns in Berlin, Frankfurt and The Hague about flexible interpretations of the Stability and Growth Pact, the European Commission ruled out the possibility of transfering the assessment of national budgets to an independent external body.

Schulz in row with Commission over parliament’s economic oversight
Est. 5minThe European Commission promised MEPs a greater involvement in the so-called European Semester - but, according to Martin Schulz, the executive's latest proposals do not live up to Parliament’s expectations.

ECB attacks Commission’s easing of fiscal rules
Est. 4minThe European Central Bank has criticised the Commission's easing of EU fiscal rules as "counter-productive", in its latest economic bulletin published Monday (2 November).

A year on, challenges remain for Europe’s single banking supervisor
Est. 5minA year after it took up its duties as Europe's banking watchdog, observers say the Single Supervisory Mechanism is doing a good job, but challenges nevertheless remain.

MEPs approve rules shining a light on ‘shadow banking’
Est. 2minFinancial transactions using shares, or other assets, to secure credit, will come under greater scrutiny after the European Parliament approved a new law on Thursday (29 October) on the 'shadow banking' sector.

Spanish banks may have to repay billions in ‘abusive’ fixed-rate mortgages
Est. 4minThe European Commission welcomed the end of the bailout programme for Spanish banks, but now may be putting the country’s financial stability at risk, as it seeks further action against 'abusive' mortgage clauses, it was reported on Tuesday (27 October).

Greece’s creditors demand further reforms
Est. 5minThe European institutions and the IMF are increasing their demands on Greece, despite the recent reforms adopted by the Greek parliament. Athens can hardly afford to resist. Our partner La Tribune reports.

Juncker eyes single seat for eurozone at IMF
Est. 6minThe European Commission presented a “realistic” proposal on Wednesday (21 October) to create a single seat for the eurozone in the International Monetary Fund - a controversial idea that has been put aside for many years.

False start at Bonn climate conference
Est. 3minThe first day of the final round of climate negotiations did not bring the expected results, as questions over finance threaten to derail the process. Journal de l'Environnement reports.

Juncker and Draghi fail to win support for eurozone reform
Est. 5minThe piecemeal approach orchestrated by Jean-Claude Juncker and Mario Draghi to address the root causes of the euro zone debt crisis and complete the Economic and Monetary Union (EMU) has not yielded any positive results so far, EURACTIV.com has learned.

EU leaders put EMU reform on the backburner
Est. 4minEuropean Union leaders have postponed a deeper discussion of the future of the eurozone until December because of divergent views in the biggest countries and because of the more pressing migration issue, diplomats said.

Hollande and Merkel join forces to push for eurozone integration
Est. 5minMotivated by the urgent need for reform, the French and German heads of state will put aside their deep political differences and champion eurozone reform together. EURACTIV France reports.

Bank of Spain threatens to evict Catalonia from the eurozone
Est. 6minThe governor of the Spanish central bank has weighed in on the question of Catalan independence, threatening the region with expulsion from the eurozone if it declares independence. La Tribune reports.

France and Germany to take front stage at ‘historic times’
Est. 5minAngela Merkel and François Hollande are to make a joint address in the European Parliament, underlining the gravity of crises facing the post-war union founded by Germany and France, officials said yesterday (21 September).

Commission lays the groundwork for post-2017 eurozone reforms
Est. 4minThe European Commision has started laying the groundwork for the next stage of eurozone integration, claiming there is “political appetite” in European capitals to start discussing reforms, followng the French and German elections in 2017.