The eurozone economy performed marginally better than expected in the first quarter of the year but it wasn’t enough to prevent the single currency area from officially falling into a double-dip recession. The eurozone’s gross domestic product (GDP) contracted by … Read More
Eurozone retail sales plunged in September – even before latest Covid lockdowns. A customer passes the closed toy department of a supermarket in Bordeaux on November 4. Supermarkets in the country have banned the sale of ‘non-essential products’. AFP Eurozone retail … Read More
Getty Images The European economy has fallen into its worst recession on record as strict quarantine measures earlier in the year to stop the spread of the coronavirus brought economic activity to an abrupt halt. According to figures released on Friday by … Read More
Collage sources: EU Website NEW YORK (IDN) – Samuel Beckett’s “Waiting for Godot” is a play featuring two characters waiting for a character, Godot, who never arrives. As such, it is a useful metaphor for the goings-on of the European … Read More
German Chancellor Angela Merkel and the head of the European Commission, Ursula von der Leyen, hold a joint news conference via video conference to mark Berlin taking over the EU’s rotating presidency from July 1 until the end of the … Read More
The Commission’s $825 billion rescue fund would break many taboos, possibly paving the way for EU taxes and an EU treasury. A radical transformation. –Photographer: Vanden Wijngaert/Bloomberg The European Union has a habit of disappointing when trying to design a joint … Read More
Despite positive developments in Germany, Chancellor Angela Merkel has cautioned that the pandemic has only just begun. She also said Germany should be prepared to open its pocketbook to help the EU. The decision to impose restrictions on public life … Read More
FILE PHOTO. © Global Look Press / www.imago-images.de The European Union urgently requires financial injections to stay afloat and survive the coronavirus epidemic currently ravaging the continent, the European commissioner for the economy, Paolo Gentiloni, has warned. A whopping €1.5 … Read More
Finance ministers of eurozone countries reached an “excellent accord” on fighting the pandemic-triggered recession. Europe has proven itself to be “a match” for the crisis, said French representative Bruno La Maire. After hours of talks on Thursday, representatives of 19 … Read More
There is only one priority for Germany and the UK right now and that is dealing with COVID-19. The available estimates of the costs of shutdown in the form of lost value-added show that the coronavirus epidemic will cause costs … Read More