The European Union’s budget rules should remain suspended in 2022 but they could be reinstated in 2023, the European Commission said on Wednesday, as reported by Reuters. “Overall fiscal impulse, stemming from national budgets and the EU recovery fund, needs to remain supportive in 2021 and 2022,” the statement read. …
Read More »EU Wants to Reduce Dependence on USD
The European Commission, the executive body of the European Union (EU) seeks to increase the international role of the Euro (EUR), building more independence away from the dominance of the U.S. Dollar (USD), Reuters reported. “With the withdrawal of the UK from the EU, there is a strong need and …
Read More »EU Commission: National Plans to Spend Covid Recovery Funds Lack Detail, Need to be Improved
The European Commission has warned some preliminary national plans to spend the covid recovery money lack detail and need to be improved, Reuters reports, citing sources with knowledge of the matter. “EU commission has said the net paying countries would reject plans if not accompanied by reforms.”
Read More »UK and EU Begin Talks Over Financial Services
The United Kingdom (UK) and the European Union (EU) are set to begin talks for an agreement about coordinating financial services, Reuters reported. The announcement was made on Tuesday by the spokesman of the British Prime Minister Boris Johnson. The aim is reportedly to reach an agreement by March. “Discussions …
Read More »Eurozone Contraction in December is Deeper Than Expected
A survey showed that economic activity in the Eurozone recorded a more severe contraction than previously thought at the end of 2020 and may deteriorate further with the renewal of the general isolation restrictions imposed to contain the Coronavirus, which has affected the services sector that dominates the bloc. With …
Read More »Trading of Euro-Denominated Shares Moves From London to the European Union
Euro-denominated stocks moved from London to new platforms in the European Union on Monday, the first trading day after Britain withdrew from the bloc’s single market. Trading in euro-denominated shares in Amsterdam and the new Aquis exchange platform in Paris grew steadily when trading began without any problems.
Read More »China and EU Reach New Investment Deal
The European Union (EU) and China have reportedly reached an agreement to open the Chinese market to European investors, Bloomberg reported. The deal has been negotiated for a very long time, since 2013, and it could come effective as of 2022. The EU is focused on expanding economic opportunities in …
Read More »European Union Governments Agree to Trade Agreement With Britain
German Foreign Minister Heiko Maas said that European Union governments agreed Tuesday to the trade agreement that regulates relations between Britain and the 27-nation bloc, which paves the way for its temporary implementation from January 1. The agreement, which maintains no customs duties or quotas for Britain, to the European …
Read More »EU Making Final Push for Brexit Agreement
The European Union (EU) is reportedly making a final push, in trade talks with the United Kingdom (UK), for an agreement for the post-Brexit stage. Fishing rights remain the issue where the biggest disagreement lies, Reuters has reported citing the EU’s chief negotiator. “We are really in a crucial moment. …
Read More »London Not Looking to Extend Brexit Transitional Period
The United Kingdom (UK) has no intention to extend the Brexit transitional period, which ends on December 31 in order to allow more time for negotiations with the European Union (EU), as expressed by a spokesperson for the British Prime Minister Boris Johnson. The First Minister of Scotland, Nicola Sturgeon, …
Read More »