On Tuesday, Mario Draghi outlined his blueprint for improving Europe’s competitiveness through closer cooperation in core areas and massive investment in shared objectives. Mr Draghi, author of a report on European competitiveness requested by the President of the European Commission, said that the EU needed to focus on three crucial issues: closing the innovation gap […]
Read MoreThe Governing Council of the ECB decided today to reduce the interest rate on the deposit facility by 25 basis points
The Governing Council today decided to lower the deposit facility rate – the rate through which it steers the monetary policy stance – by 25 basis points. Based on the Governing Council’s updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to […]
Read MoreEU extends individual sanctions over Russia’s war on Ukraine for six months
The Council decided today to prolong the restrictive measures targeting those responsible for undermining or threatening the territorial integrity, sovereignty and independence of Ukraine for another six months, until 15 March 2025. The existing restrictive measures provide for travel restrictions for natural persons, the freezing of assets, and a ban on making funds or other economic resources available to the listed […]
Read MoreEuropean Commission issues €10 billion in its 8th syndicated transaction of 2024
The European Commission has today raised €10 billion of EU-Bonds in its 8th syndicated transaction for 2024, €5 billion of which in the form of NextGenerationEU (NGEU) Green Bonds. The dual-tranche transaction concerned a new €5 billion bond due on 4 December 2031, and a €5 billion tap of the NGEU Green Bond maturing on 4 […]
Read MoreCommission launches new online portal to support investment in critical technologies across the EU
The Commission today launched a new online portal for the EU’s Strategic Technologies Platform for Europe (STEP) initiative. This one-stop shop allows investors, project promoters and national managing authorities to access key information and identify EU funding opportunities in STEP’s three strategic sectors : digital technologies and innovation in frontier technologies, clean and resource-efficient technologies […]
Read MoreCommission publishes findings of evaluation of EU antitrust enforcement framework
The European Commission yesterday published a Commission Staff Working Document summarising the findings of the evaluation of the EU Regulations laying down the procedures for the application of the EU competition rules(Regulation 1/2003 and Regulation 773/2004, together the “Regulations”). The Regulations establish the procedural framework for the application of the EU competition rules laid down […]
Read MoreEU annual budget for 2025: Council agrees its position on the draft budget
The Council’s reached an agreement on its position on the 2025 EU draft budget. In total, the Council’s position for next year’s budget amounts to €191.53 billion in commitments and €146.21 billion in payments, not including appropriations foreseen for special instruments outside the MFF. Overall, the Council takes a prudent approach. The Council stresses the […]
Read MoreEuropean Semester 2024: Council agrees on country- specific recommendations
Today, the Council agreed its country-specific recommendations on the economic, social, employment, structural and budgetary policies of each member state. This step is part of the 2024 European Semester process, which enables member states to coordinate their economic, employment and fiscal policies. This year the European Semester cycle will be aligned with the provisions of […]
Read MoreEU Budget 2025 aims to reinforce funding for Europe’s priorities
The Commission has proposed an annual EU budget of €199.7 billion for 2025. The budget will be complemented by an estimated €72 billion of disbursements under NextGenerationEU. This substantial financial envelope will support the EU in meeting its political priorities while integrating the changes agreed in the mid-term revision of the Multiannual Financial Framework (MFF) in […]
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