A common currency for Europe – with the introduction of the euro more than 20 years ago, that vision became reality. More recently the monetary union was put to the test during the European sovereign debt crisis. And while the perspectives for the euro zone as a whole are better than they have been in a long time, major reforms are on the horizon. In addition, an expansion of the common currency to all EU member countries is being debated. As a result the new chairman of the Eurogroup, Mario Centeno, already has his work cut out for him.
Eurozone
Many states, one currency
Eurozone GDP plummets by record 12.1 per cent in second quarter
Countries worldwide have been suffering economically from the consequences of the coronavirus pandemic. This is no different from the Eurozone, where the GDP has declined massively for the first time in 25 years.
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What now? Re-elected Polish president’s key challenges
Despite narrowly winning re-election, Polish President Andrzej Duda will face a newly energised opposition as the country's economy heads for its first recession in decades
Sweden and Denmark step out of the shadows as EU’s frugals
Normally perceived as team players, Sweden and Denmark have found themselves playing the unaccustomed role of outliers in EU politics, blocking the widely backed COVID-19 recovery plan
Ireland’s Donohoe takes leadership of Eurogroup amid historic recession
Irish finance minister Paschal Donohoe has been picked as the new president of the Eurogroup, a key role as Europe sits in the depths of its deepest recession since World War II
Eurozone picks new chief as pandemic recession looms
Who will be the next Eurogroup president? Eurozone finance ministers will meet to elect a new president, filling a key job just as the continent is facing the worst recession in EU history.
Dutch ‘preachers and salesmen’ lead EU frugality drive
The Netherlands will be at the centre of upcoming talks over European spending on the coronavirus crisis, driven by a mix of traditional Calvinist frugality and political reality, experts say