The risk of recession in the euro area is growing, economists polled by Bloomberg warned on Tuesday, citing the shortage of natural gas, as well as inflation – which remains at record levels – as the main factors. The likelihood of recession has reportedly surged to 45% from 30% in …
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The new bond reinvestment plan introduced by the European Central Bank (ECB) earlier this week to help indebted EU states is unlikely to work, Reuters and Bloomberg report, citing analysts. The ECB came up with the plan to help the EU’s southern nations, the bloc’s most indebted, with mounting obligations. …
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Inflation in the Eurozone exceeded the worst expectations and hit a record 8.1% in May amid surging energy costs, according to official figures released on Tuesday. A flash estimate by European Union statistics agency Eurostat revealed that the main component of inflation in the euro area is energy, which is …
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Reform of the Eurozone has been the most difficult issue. German Chancellor Angela Merkel and President of France Emmanuel macron have agreed to establish a Eurozone budget. About the leaders of the two countries said after talks in the German castle of Meseberg. “We are opening a new Chapter. We …
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Bulgaria meets three of the four criteria. Prime Minister of Bulgaria Ognyan of Gerdjikov intends to start negotiations with EU States on the issue of accession to the Eurozone. The head of the transitional Cabinet of Ministers said during a press conference in Sofia, reports the correspondent of UKRINFORM. “Bulgaria …
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