Main results of the video conference of the Eurogroup, 30 November 2020 Inclusive format Reform of the European Stability Mechanism (ESM) The Eurogroup agreed to proceed with the reform of the European Stability Mechanism (ESM): to sign the revised ESM treaty and to launch its ratification. Among other things, the reform establishes a common backstop […]
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European Semester Autumn Package
The European Commission presented its autumn economic policy package, including the Opinions on euro area Draft Budgetary Plans (DBPs) for 2021 and policy recommendations for the euro area. This is the second step in the 2021 European Semester cycle, which started in September with the publication of the Annual Sustainable Growth Strategy (ASGS) with the concept of […]
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16.8 million European funds advanced to Spain to fight the pandemic
Seven EU Member States, including Spain, will receive advance payments from the Solidarity Fund to mitigate the consequences of the coronavirus pandemic. Aid from the Solidarity Fund Germany, Ireland, Greece, Croatia, Hungary and Portugal will also receive advances to cope with the health emergency On Monday, Budgets Committee Members approved €823 million in EU aid […]
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European Commission to empower consumers to become the driver of transition
The European Commission launched the New Consumer Agenda to empower European consumers to play an active role in the green and digital transitions. The Agenda also addresses how to increase consumer protection and resilience during and after the COVID-19 pandemic, which brought significant challenges affecting the daily lives of consumers. More concretely, the Agenda puts […]
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Boeing WTO case: The EU puts in place countermeasures against U.S. exports
The European Commission’s regulation increasing tariffs on U.S. exports into the EU worth $4 billion will be published in the Official Journal of the EU. The countermeasures have been agreed by EU Member States since the U.S. has not yet provided the basis for a negotiated settlement, which would include an immediate removal of U.S. […]
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Agreement between the European Parliament and EU Member States on Europe’s next long-term budget and NextGenerationEU
The European Commission has today welcomed the agreement between the European Parliament and EU Member States in the Council on Europe’s next long-term budget and NextGenerationEU, the temporary recovery instrument. Once adopted, the package of a total of €1.8 trillion will be the largest package ever financed through the EU budget. It will help rebuild […]
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Autumn 2020 Economic Forecast
The coronavirus pandemic represents a very large shock for the global and EU economies, with very severe economic and social consequences. Economic activity in Europe suffered a severe shock in the first half of the year and rebounded strongly in the third quarter as containment measures were gradually lifted. However, the resurgence of the pandemic […]
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New mechanism aims to protect EU budget and values
The EU is preparing rules which would make it possible to stop payments from the EU budget to member states that do not respect the rule of law. Parliament negotiators reached a provisional agreement with the Council presidency on 5 November on legislation establishing a mechanism that would allow the suspension of budget payments to […]
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Eurogroup statement on COVID-19 developments this autumn
At the outset of Eurogroup meeting, members of the Eurogroup offered condolences to Austrian and French colleagues on the recent horrific attacks and reiterated that Europe will always stand together. The Eurogroup had a thorough discussion on the economic outlook in view of current COVID-19 developments. The Eurogroup was briefed by the Director of the […]
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