The Governing Council of the European Central Bank decided to keep the three key ECB interest rates unchanged. The incoming information has broadly confirmed the Governing Council’s previous assessment of the medium-term inflation outlook. Inflation has continued to fall, led by lower food and goods price inflation. Most measures of underlying inflation are easing, wage […]
Read MoreNextGenerationEU recovery plan – to be paid back by the next generation?
In 2021, the EU set up the NextGenerationEU (NGEU) fund – worth around €800 billion – to prop up the economies of its member states during and following the COVID–19 pandemic. While the money has been flowing to member states, the flow is slow and set to end in 2026. There is also a catch – it is […]
Read MoreFirefighting: EU earmarks €600m to reinforce EU rescue operations
The Commission is financing the purchase of new firefighting planes to increase the aerial firefighting capacity of rescEU, the EU Civil Protection Mechanism’s strategic crisis response reserve. €600 million in EU funds will be used to purchase 12 new planes, which will be hosted across 6 EU Member States: Croatia, France, Italy, Greece, Portugal, and […]
Read MoreTaking stock of the Spanish Recovery, Transformation and Resilience Plan
The European Commission Representation in Spain organised the second annual conference on the Spanish Recovery, Transformation and Resilience Plan. The event took stock of the Plan, analysing the opportunities it offers to achieve a greener, more digital and resilient Spain, as well as the challenges for its implementation. The event was opened by the acting […]
Read MoreBudget 2025: Council agrees on guidelines for next year’s EU budget
The Council reached an agreement on its guidelines for the 2025 EU budget. The approved guidelines will provide political guidance to the Commission in preparing the budget for next year. In its conclusions, the Council underlines that the EU budget for 2025 has a key role in the development and delivery of the long-term objectives […]
Read MoreSpain: EIB and Otua sign €40 million loan to back the construction of a waste recycling plant in the Basque Country
The European Investment Bank (EIB) and Basque Country-based Otua Group have signed a €40 million loan to finance the construction of a new plant for recycling plastics from automotive waste and to upgrade existing facilities for processing metal waste. The EIB loan promotes the transition to circular economy – in which industrial materials get reused rather […]
Read MoreEuropean Commission proposes changes to the EU budget for 2024
The European Commission adopted a proposal to amend the EU budget for 2024 to reflect the changes made following the agreement between the European Parliament and the Council on the revision of the Multiannual Financial Framework (MFF) for 2021-2027. This amended budget will enable the Union to continue delivering this year on the EU’s common priorities, for the […]
Read MoreEU long-term budget for 2021-2027: Council concludes the mid-term revision
The Council adopted three legislative acts related to the revision of the EU multiannual financial framework for 2021-2027, giving the final go-ahead for the package, which is aimed at reinforcing the EU long-term budget in a targeted manner and addressing new challenges, such as the consequences of Russia’s war of aggression against Ukraine. The package […]
Read MoreCouncil adopts regulation on instant payments in euro
The Council adopted a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries. The new rules will improve the strategic autonomy of the European economic and financial sector as they will help reduce any excessive reliance on third-country financial institutions and infrastructures. Improving the possibilities […]
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