From today, sending money across the euro area will be faster and safer than ever. Thanks to new EU rules on instant payments, people and businesses can now transfer money in euro within seconds, anytime – day or night, weekdays or weekends – whether within their own country or across the euro area. Since January 2025, payment service […]
25 years of the euro: the value of unity in a changing world
25 years ago, on 1 January 1999, the euro came into force as the single currency for 11 EU Member States. It now serves the economy and eases life for 350 million people in 20 countries. The case for Europe has always rested on solving problems that countries could not address alone. After the Second […]
European Central Bank moves to the next stage of the digital euro project
The Governing Council of the European Central Bank (ECB) decided to move to the next phase of the digital euro project: the preparation phase. This decision follows the completion of the investigation phase launched by the Eurosystem in October 2021 to explore possible design and distribution models for a digital euro. Based on the findings […]
The European Commission adopted a proposal to adjust and further strengthen the current crisis management framework for banks
On 18 April, the European Commission adopted a proposal to adapt and further strengthen the existing EU system of bank crisis management and deposit insurance, with a special focus on small and medium-sized banks. The EU banking sector, which has a strong crisis management system, has become more resilient in recent years. EU financial institutions […]
Statement by the G7 Finance Ministers and Central Bank Governors following their meeting in Washington D.C.
We, the G7 Finance Ministers and Central Bank Governors, met in Washington D.C., joined by the Heads of the International Monetary Fund, World Bank Group, Organisation for Economic Cooperation and Development, and Financial Stability Board. We were honored to be joined by the Ukrainian Finance Minister Sergii Marchenko. We discussed recent global economic and financial sector […]
European Commission proposes common criteria against greenwashing and misleading environmental claims
On 22 March, the Commission proposed common standards against money laundering and misleading environmental claims. Under the proposed proposals, consumers will have greater clarity and confidence that when something is marketed as organic, choosing environmentally friendly products and services is an authentic message of better quality. Businesses will also benefit, as consumers will be able […]
REACT-EU: €1.8 billion to boost employment, healthcare and social inclusion in Spain
Spain will receive an additional €1.8 billion under REACT-EU to boost employment, healthcare and social inclusion. The funds will help maintain employment through short-time work measures, and support workers and jobseekers in acquiring the skills needed for a more digital and green economy. The funds will also reinforce the healthcare sector and support Spain’s economic recovery from […]
Commission welcomes Joint Statement to provide affordable, accessible and transparent remittance services to Ukraine
The European Commission has welcomed a Joint Statement by EU and Ukrainian financial institutions to provide access to affordable, accessible and transparent remittance services to Ukraine. Nowadays, remittances from Ukrainians in the EU are a vital way of providing means of subsistence to their families and relatives at home. In the face of the growing […]
Interview with Luis de Guindos, Vice-President of the ECB
Last Thursday 28th July, the Governing Council of the ECB decided to increase the key interest rates by 0.5 percent, which differed from the initial plan to increase rates by 0.25 percent. But has it not come too late? Other major central banks reacted to inflation much earlier. We started the normalisation of our monetary […]