Economic governance
As it happened: European Council summit
EU leaders meet for one more day after formally naming Ukraine and Moldova EU candidates.
UK inflation hits 40-year high of 9.1 percent in May
Crypto industry fears regulatory backlash over lending crisis
Zelenskyy chides global elite — Trust troubles — Billionaire bonanza
From patient to doctor: Portugal makes bid to lead the bloc’s bailout fund
Ukraine isn’t ready for EU membership — the EU isn’t ready for it either
Bank of England raises interest rates again as inflation soars
Italy faces uphill bid for EU bailout fund’s top job
At least 3 other countries are considering putting forward a candidate.
Tax Bitcoin, says ECB executive
Current tax treatment of crypto assets is ‘minimal,’ according to Fabio Panetta.
Crypto crackdown ripples through the Baltics
Estonia clamped down on crypto. Now its Baltic neighbors are following suit to protect their economies from dirty money.
EU freezes assets of 4 Russian banks
Crypto companies will also be forced to limit their services to Russians in Europe.
Poland vetoes EU tax reform again, dismisses ulterior motives
Warsaw is now the only EU holdout on the deal.
Austria rejects sanctions against Russian oil, gas
Vienna is calling on the EU to keep a cool head despite reports of Russian atrocities in Ukraine.
Darkening sentiment a ‘major concern,’ ECB’s chief economist says
Inflation is still expected to ‘fade away,’ says Philip Lane.
Macron delays eurobond debate amid frugal pushback
EU leaders were more focused on how to reduce dependence on Russian oil and gas, not on issuing new joint debt.
New Dutch finance chief warns against ‘throwing caution to the wind’ on spending
While the EU steers toward more fiscal laissez-faire in the midst of war in Ukraine, the Dutch swim against the tide.
Big countries play down calls to waive defense from EU deficit rules
The push comes ahead of this week’s informal gathering of EU leaders in Versailles, France.
France’s Bruno Le Maire tells Germany not to ‘close doors’ on EU budget reforms
Le Maire said EU capitals are only ‘at the beginning of the discussion.’
Brussels sees stronger growth in 2023 despite slowdown this year
Omicron, surging energy prices and supply-chain bottlenecks caused the Commission to downgrade its 2022 growth forecast.
Good news for France and Italy as Brussels looks to keep debt rules on ice in 2023
Brussels is trying to reintroduce the bloc’s rules for public spending without triggering austerity or undermining the climate fight.
Europe wary of following US in using antitrust to fight inflation
Biden administration pushes competition policy as weapon against surging prices; European regulators aren’t so sure.
NATO’s Stoltenberg to become Norway’s next central bank chief
He will start around the beginning of December, says finance ministry.
Crypto CEO: Regulators are welcome — to a point
Bitstamp favors new crypto safeguards, even if it pushes some out of the market.
IMF: Omicron and rising prices are undermining global recovery
Access to vaccines is vital to prevent the spread of new and dangerous strains of COVID-19, the Fund said.
Europe’s veto threatens to stall global tax reform
Estonia, Hungary and Poland are unhappy with plans to introduce a minimum global corporate tax rate of 15 percent by January 2023.
EU budget offers debt loophole to battle climate change
Policymakers are trying to turn the economy green while keeping EU finances in check.
Europeans confused about ECB’s role, survey finds
A poll shows respondents often had a far more wide-ranging view of the ECB’s mandate than is actually the case.
Macron and Draghi jointly call for softer fiscal rules
The pair call for flexibility to ‘ensure our sovereignty’ in an op-ed.
Turkey gambles on economic turnaround as cost of living skyrockets
President Erdoğan wants Turkey to become a manufacturing hub modeled after China.
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