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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EU trade in high-tech products up in 2022
In 2022, the EU imported €482 billion worth of high-tech products from extra-EU countries (+22% compared with 2021). Exports to these countries reached €446 billion (+16% compared with 2021). More than half of imports from China and the United States In 2022, over half of the EU’s high-tech imports from non-EU countries came from China (38%; €183 billion) and the United States (19%; €91 […]
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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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Commission launches pilot system to monitor semiconductor supply chain
The European Commission has launched the Semiconductor Alert System, a new pilot system to monitor the semiconductor supply chain. The pilot allows stakeholders to raise awareness on any critical disruption along the semiconductors’ value chain and helps the Commission to gather information needed to establish a precise assessment of risks and to quickly react to any potential crisis situation via the European […]
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The General Court of the European Union annuls Germany’s €6 billion bailout of Lufthansa
The Commission committed several errors, in particular, by considering that Lufthansa was unable to obtain financing on the markets for the entirety of its needs, by failing to require a mechanism incentivising Lufthansa to buy back Germany’s shareholding as quickly as possible, by denying that Lufthansa held significant market power at certain airports, and by […]
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European Commission raises EUR 9 billion in new issue for recovery fund and Ukraine
The sixth syndicated transaction for 2023 by the European Commission, which issues EU-Bonds on behalf of the EU, raised €9 billion today in a dual-tranche deal. Two tranches were included in it: a new 3-year line with a due date of October 5, 2026, for which €5 billion were issued, and a tap of a […]
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The European Parliament calls for better controls on the implementation of recovery funds, citing the case of Spain
On Wednesday, the European Parliament approved the implementation of the EU’s 2021 budget for most of the EU institutions, except the European Council. Most of the EU’s expenditure is managed by the European Commission, whose budgetary performance was approved by the European Parliament with 421 votes in favour, 151 against and 5 abstentions. In 2021, […]
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Diversity in senior management improves banks
Still, banking is a man’s world. The ECB has noted that more than 300 of the 361 CEO appointments at the significant institutions (SIs) directly under its supervision as well as at their subsidiaries between 2020 and 2022 were men. Additionally, just 36% of newly appointed board members in SIs were women during the same […]
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