The European Commission has approved an up to €10 billion Spanish scheme (“National Guarantee Scheme”) to support self-employed and companies across sectors in the context of Russia’s invasion of Ukraine. The scheme was approved under the State aid Temporary Crisis Framework, adopted by the Commission on 23 March 2022, based on Article 107(3)(b) of the Treaty on […]
Croatia prepares for euro adoption
As of 1 June, the European Commission has concluded that Croatia is ready to adopt the euro on 1 January 2023, bringing the number of euro area Member States to twenty. The conclusion is set out in the 2022 Convergence Report, which assesses the progress that Bulgaria, Czechia, Croatia, Hungary, Poland, Romania and Sweden have […]
20 years of the euro in your pocket
Twenty years ago, on 1 January 2002, twelve EU countries changed their national currency banknotes and coins for the euro in the largest currency changeover in history. In these two decades, the euro has contributed to the stability, competitiveness and prosperity of European economies. Most importantly, it has improved the lives of citizens and made […]
Spring 2020 Economic Forecast: A deep and uneven recession, an uncertain recovery
The coronavirus pandemic represents a major shock for the global and EU economies, with very severe socio-economic consequences. Despite the swift and comprehensive policy response at both EU and national level, the EU economy will experience a recession of historic proportions this year. The Spring 2020 Economic Forecast projects that the euro area economy will […]
Croatia declares its intention to join the euro area
In the margins of the Eurogroup meeting, representatives of the eurozone member states, the European Central Bank (ECB) and Denmark met in the presence of the European Commission and Croatia to discuss prospects of Croatia’s participation in the ERM II. Croatia’s intention to join ERM II shows that the eurozone is a solid anchor of […]
Eurobarometer 479 in all the EU Member States that have yet to adopt the euro
Introducing the euro is seen as positive for the euro area countries… A majority of respondents in all the EU Member States that have yet to adopt the euro thinks that the common currency has had a positive impact on those countries that already use it, the latest Flash Eurobarometer shows. In total, 56% of […]