The European Investment Bank (EIB) and Grupo Cooperativo Cajamar have signed a purchase agreement of a €350 million covered bond issue. The transaction enables the cooperative bank Cajamar to make up to €784 million in financing available to support investment in projects of small and medium-sized enterprises (SMEs) and mid-caps, especially those operating in rural […]
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Spain submits a petition to revise the recovery and resilience plan and include a REPowerEU chapter
On June 6, Spain submitted a request to the Commission to amend its recovery and resilience plan, to which it wishes to add a REPowerEU chapter. The general amendments proposed by Spain would add 18 reforms and 25 new or expanded investments, and would involve more than €95 billion of additional RRM funding. The proposed […]
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The European Commission has proposed an annual EU budget of €189.3 billion for 2024
The budget will be complemented by an estimated €113 billion in payments for grants under NextGenerationEU, the EU’s post-pandemic recovery instrument. Their combined firepower will keep driving Europe’s ongoing economic recovery and create jobs, while strengthening Europe’s strategic autonomy. The EU faced exceptional challenges in the last years, including fast rising inflation, which put considerable […]
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European Blue Economy report 2023: economic crisis takes a toll but doesn’t stop the growth
The European Blue Economy report is a compass to help decision-makers and stakeholders navigate the waters of the European blue economy. The 2023 edition of the report highlights the evolution of the blue economy sectors since 2010. It shows that despite the negative impact of the COVID19 pandemic and the unprovoked Russian invasion of Ukraine, most […]
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Policy guidance under the European Semester
The Commission is today providing guidance to Member States under the 2023 European Semester Spring Package to build a robust and future-proof economy that secures competitiveness and long-term prosperity for all in the face of a challenging geopolitical environment. This requires an integrated approach across all policy areas: promoting environmental sustainability, productivity, fairness, and macroeconomic stability. The European Semester provides […]
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Council adopts EU rules on crypto-assets market
The EU brings crypto-assets, crypto-assets issuers and crypto-asset service providers under a regulatory framework. Setting an EU level legal framework for this sector for the first time, the Council adopted a regulation on markets in crypto-assets (MiCA). MiCA will protect investors by increasing transparency and putting in place a comprehensive framework for issuers and service providers including compliance […]
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Eurogroup discusses banking union and capital markets union and progress on the digital euro project
Eurogroup, 15 May 2023 Agenda highlights In usual composition: Macroeconomic developments in the euro area The Commission presented its spring economic forecasts. On this basis, the Eurogroup exchanged views on the economic outlook and the challenges for future policy coordination. Spring 2023 Economic Forecast Business: structural challenges ahead in a context of heightened geopolitical tensions […]
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Spring Economic forecast for Spain
Following strong expansion in 2022, economic activity is expected to slow down in 2023. Labour market resilience and the implementation of the Recovery and Resilience Plan (RRP) are set to sustain growth, which is forecast to accelerate further in 2024. Headline inflation is projected to moderate on the back of to lower energy prices. The […]
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Parliament warns of impact of recovery costs on EU budget by 2024
Parliament warned on Wednesday about the impact of recovery costs on the bloc’s 2024 budget, putting the bloc’s main plans at risk. MEPs are “deeply concerned that, if the necessary measures are not taken, the cost of increased funding for European recovery instruments could severely constrain the EU budget in terms of financing EU priorities […]
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