The European Commission last week took a decisive step towards strengthening support for Ukraine by proposing a comprehensive financial assistance package, consisting of a loan cooperation facility with Ukraine of up to 45 billion euros and an exceptional macro-financial assistance loan of up to 35 billion euros. This package leverages extraordinary profits from immobilised Russian […]
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Mario Draghi outlines his plan to improve Europe’s competitiveness
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 […]
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Employment rate up, labour market down in Q2 2024
In the second quarter of 2024, the employment rate of people aged 20-64 in the EU stood at 75.8%, an increase of 0.2 percentage points (pp) compared with the first quarter of 2024. Labour market slack – encompassing those with unmet employment needs, a large part of which includes unemployed persons – amounted to 11.0% of the extended labour force aged 20-64 in […]
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The 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 […]
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EU 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 […]
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European 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 […]
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Commission 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 […]
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EU boosts European AI developers with the AI Factories call for proposals
Today, the Commission has launched a call for setting up AI Factories to boost European leadership in trustworthy artificial intelligence (AI). AI Factories will be created around the EU’s world-class network of European High-Performance Computing (HPC) supercomputers and will be available to a range of European users, such as startups, industry and researchers. President of the Commission, […]
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EU competitiveness: Looking ahead
Introduction Today, Europe stands united in its pursuit of inclusive economic growth, focusing on sustainable competitiveness economic security open strategic autonomy fair competition They all serve as pillars of prosperity. The vision that drives Europe forward is to create conditions where businesses thrive, the environment is protected, and everyone has an equal chance at success. […]
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