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The debt crisis in the euro area

First it was the global financial crisis. Then came the debt crisis in the euro area, unleashed by Greece. A series of strong explosions followed in the eurozone - first Ireland, then Portugal and now the attention is focused on Spain and Italy. All measures, applied so far, failed to solve the problem in its roots and markets' lack of confidence that the EU would control the crisis still exercises strong pressure on the debt stricken economies.

26 July 2016 13:53 Brexit Awoke an Echo of the Euro Area Crisis

In the first days following the June 23 referendum in Great Britain, in which voters decided that their country should leave the European Union, economic data showed the presence of a far stronger economic shock for the United Kingdom, than for the EU. A month after the publishing of t ...

12 June 2016 19:31 Is the End of the Greek Saga Near?

Have we committed to history the emergency meetings of the Eurogroup, or even the European Council, dedicated to solving the next Greek case – will it have enough money to pay wages and pensions, will it remain in the euro area, will it draw another loan, will it pay back the previous ones ...

30 May 2016 10:41 EC: Now Is Not the Time To Follow Rules

The crisis is officially over, budget policy no longer matters, rules do not matter during election time. Those are the messages from this year’s European semester, the culmination of which was the presentation of the country-specific recommendations on May 18th. At that time, th ...

26 April 2016 18:22 Eurogroup and IMF Have Come Closer to Agreement on Greek Debt

The end of the dispute between the International Monetary Fund and the EU on the third Greek bailout programme is now near. This became evident during the informal meeting of the Eurogroup in Amsterdam last Friday. A compromise solution was reached then, which allows for the IMF to receive guara ...

16 December 2015 21:16 Juncker: The Euro Area Crisis Is not Over Yet

The subject of the euro area's future is back on the agenda of the leaders of the 28 EU member states. This time, however, more specific decisions are expected. The five presidents’ report will be thoroughly discussed on the second day of the December European Council &ndash ...

17 June 2016 19:48 EC Needs To Understand All Members Are Equal to the Pacts

The hearing of Dutch Finance Minister Jeroen Dijsselbloem in the EP’s economic committee on Tuesday was planned to be smooth and boring. The purpose of the hearing was for the minister to give an account about what has been accomplished by the Dutch rotating presidency during the six- ...

7 June 2016 20:13 Is the Euro Area Ready to Handle a Brexit?

The euro area is recovering slowly, but surely. So surely, that Economic and Monetary Policy Commissioner Pierre Moscovici (France, Socialists and Democrats) definitively announced the end of austerianism in favour of a looser fiscal policy. Supporting his call, the European Commission abdicated ...

7 May 2016 07:45 Spring Economic Forecast: Going out of Austerity Back To Keynesianism

This week, the European Commission revised down its forecast for the EU’s economic growth because of the continuing global instability, but also because of the internal European instability. The EC expects the effect on growth of the low oil prices and the devaluation of the euro to wane, ...

9 March 2016 11:41 Eurogroup Gave In to the IMF on Greek Debt Relief

It is not easy being Greece these days. On one side, Athens is pressed by the thousands of refugees overflowing from Turkey and its Schengen partners, and on the other it is pressured by disagreement between the Eurogroup and the International Monetary Fund on the implementation of the third bai ...

17 November 2015 11:23 The Missing Numbers in the Autumn Economic Forecast

The demographic component of growth is not the only novelty in this year’s economic forecast. There was one more quite important element in it, which however, due to lack of figures, remains almost invisible. It is the effect of structural reforms. This tiresome phrase, ...

 
free talk corner
Adelina Marini
#Turkey It's worrying that a lot of media outlets have been closed and a lot of journalists have been arrested. It is very important the Turkish authorities to respect under any circumstances the rule of law and human rights, the Commission said
28 July 2016 12:21
Adelina Marini
The @EU_Commission has decided not to impose fines on #Spain and #Portugal for violating the fiscal rules because of the severe social situation in both countries
27 July 2016 13:59
Adelina Marini Pierre #Moscovici: All three options, including cancelling the fine, are entirely within the rules
27 July 2016 14:30
Adelina Marini
The @EU_Commission has decided today to send a rule of law recommendation to #Poland, first Vice President Frans Timmermans (The Netherlands, ALDE) said
27 July 2016 13:21
Adelina Marini #Timmermans: We're all very concerned with the developments in #Turkey. I hope Turkey will stick to democracy and rule of law
27 July 2016 13:36
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