Eurozone

Many states, one currency
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.
Netherlands' Prime Minister Mark Rutte arrives for a European Union Summit at the Europa building in Brussels on December 12, 2019. - European Union leaders meet without Britain on December 12, but their departing neighbour's absence will not make agreeing a budget any easier. Inside the chamber, the clash over climate take Brexit's place as the dominant theme of the summit, the first to be chaired by incoming EU Council president Charles Michel. (Photo by Kenzo TRIBOUILLARD / AFP)
Netherlands' Prime Minister Mark Rutte a […]

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
Cranes operate at a construction site on Berlin's Friedrichstrasse on August 21, 2019. - The 25.300 square-meter site in central Berlin, which includes the old Tacheles artist colony (building 2nd from L), is being redeveloped to include retail space, offices and residential units, designed by Swiss architects firm Herzog & De Meuron. (Photo by John MACDOUGALL / AFP)
Cranes operate at a construction site on […]

Eurozone economy to crash 8.7% in 2020: EU forecast

The eurozone economy will plunge 8.7% in 2020 due to the coronavirus crisis, the European Commission said in more pessimistic forecasts that do not see a complete rebound next year
A photo taken on February 5, 2013 in Marseille shows credit cards. French police has arrested, early this morning in Paris and in several French and overseas departments, 22 people in connection with the trade of credit cards numbers on internet. AFP PHOTO / ANNE-CHRISTINE POUJOULAT (Photo by ANNE-CHRISTINE POUJOULAT / AFP)
A photo taken on February 5, 2013 in Mar […]

European banks team up to offer alternative to Visa, Mastercard

European banks have teamed up to deliver by 2022 a new unified payment system that will offer consumers cards and digital wallets that could offer a serious alternative to Visa and Mastercard
German Chancellor Angela Merkel speaks at the Bundestag, Germany's lower house of parliament, during a session to answer MPs questions on July 1, 2020 in Berlin. (Photo by John MACDOUGALL / AFP)
German Chancellor Angela Merkel speaks a […]

Merkel’s legacy at stake as Germany takes EU reins

Germany has taken over the European Union's presidency, with Chancellor Angela Merkel staking her legacy on a massive economic recovery plan to help the bloc with the coronavirus fallout
People wearing face masks walk past a Euro sign in front of the European Central Bank (ECB) headquarters in Frankfurt am Main, western Germany, on April, 24, 2020 amid the coronavirus pandemic. Photo: Yann Schreiber / AFP
People wearing face masks walk past a Eu […]

Europe boosts aid to virus-hit economies as UN seeks ‘people’s vaccine’

The European Central Bank has ramped up efforts to help its coronavirus-hit economies as the UN's chief called for a "people's vaccine" to battle the pandemic
German Chancellor Angela Merkel arrives to address a joint press conference with French President Emmanuel Macron, who attends via video link, at the Chancellery in Berlin, Germany, on May 18, 2020 on the effects of the novel coronavirus COVID-19 pandemic. (Photo by Kay NIETFELD / POOL / AFP)
German Chancellor Angela Merkel arrives […]

French-German recovery plan faces tough Brussels test

The road to clinch an EU recovery plan remains difficult, officials have warned, despite the surprise entente between Berlin and Paris to back a 500 billion euro rescue
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