The European Commission and the Instituto de Crédito Oficial (ICO) signed an agreement under the InvestEU guarantee scheme for up to €75 million. The guarantee package will help leverage ICO funding of up to €150 million to invest in sustainable infrastructure in Spain and other Member States. This public investment is expected to mobilise an […]
Read More
European Comission publishes the Winter Economic forecast for Spain
Spain weathered relatively well the negative shocks unleashed by Russia’s war of aggression against Ukraine in 2022. The resilience of the economy was underpinned by the strong rebound in tourism over the summer season and dynamism of private consumption, also supported by positive labour market developments. Compared to the Autumn Forecast, growth for 2022 is […]
Read More
Commission clears creation of a joint venture by Deutsche Telekom, Orange, Telefónica and Vodafone
The European Commission has approved unconditionally, under the EU Merger Regulation, the creation of a joint venture by Deutsche Telekom AG Orange SA, Telefónica S.A. and Vodafone Group plc. The Commission concluded that the transaction would raise no competition concerns in the European Economic Area (‘EEA’). The joint venture will offer a platform to support […]
Read More
European Union publishes winter economic forecast for 2023
Almost one year after Russia launched its war of aggression against Ukraine, the EU economy entered 2023 on a better footing than projected in autumn. The Winter interim Forecast lifts the growth outlook for this year to 0.8% in the EU and 0.9% in the euro area. Both areas are now set to narrowly avoid […]
Read More
EU acts against dumping of ceramic tile imports from India and Turkey
The Commission has imposed definitive anti-dumping measures on imports of ceramic tiles from India and Turkey for a period of five years. The decision comes as a result of an investigation initiated in December 2021 which found that EU producers have been injured by dumped imports from India and Turkey. The injury suffered by EU […]
Read More
How much do households spend on food and alcohol?
In 2021, households in the EU spent over €1 035bn (equivalent to 7.1% of the total EU GDP) on ‘Food and non-alcoholic beverages’. This represents a share of 14.3% of total household expenditure. Compared with 2020 (14.8% share), this represents a decrease of 0.5 percentage points (pp). The highest shares for ‘Food and non-alcoholic beverages’ […]
Read More
EU and India form Trade and Technology Council
The last Monday, February 6th, he EU and India have strengthened their relationship as strategic partners by setting up a new Trade and Technology Council (TTC). The new TTC will deepen strategic engagement on trade and technology between both partners. This follows the announcement by President of the European Commission Ursula von der Leyen and Prime Minister of […]
Read More
EU and G7 agree to cap prices of Russian petroleum products
Additional price caps for Russian petroleum products that are transported by sea have been adopted by the European Union and the global G7+ Price Cap Coalition (such as diesel and fuel oil). Russia’s ability to conduct war in Ukraine will be diminished by this choice, which will further harm its financial streams. Additionally, it will […]
Read More
The European Central Bank raises interest rates to 3%
The Governing Council will stay the course in raising interest rates significantly at a steady pace and in keeping them at levels that are sufficiently restrictive to ensure a timely return of inflation to its 2% medium-term target. Accordingly, the Governing Council decided to raise the three key ECB interest rates by 50 basis points […]
Read More