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Latest News

Homeownership in the EU: 68% of residents own their homes in 2024

Homeownership in the EU: 68% of residents own their homes in 2024 Homeownership in the EU: 68% of residents own their homes in 2024
  In 2024, more than two-thirds of people living in European Union households—68%—owned their own home, a slight decrease from 69%...
Read More...

EU–US trade deal back on track: European Parliament moves to revive Turnberry tariff laws

EU–US trade deal back on track: European Parliament moves to revive Turnberry tariff laws EU–US trade deal back on track: European Parliament moves to revive Turnberry tariff laws
  The European Parliament is preparing to restart work on key legislation underpinning the EU–US Turnberry trade deal, after a majority...
Read More...

EU approves €90 billion loan to Ukraine to fund war effort through 2027

EU approves €90 billion loan to Ukraine to fund war effort through 2027 EU approves €90 billion loan to Ukraine to fund war effort through 2027
  European Union ambassadors have agreed on the final details of a €90 billion loan package for Ukraine, a major financial commitment...
Read More...

Interest earned on frozen Russian assets at Euroclear drops 26% as rates ease

Interest earned on frozen Russian assets at Euroclear drops 26% as rates ease Interest earned on frozen Russian assets at Euroclear drops 26% as rates ease
  Interest income generated from frozen Russian assets held by Euroclear declined sharply last year, falling by 26 per cent to around €5...
Read More...

Europeans call for stronger EU action as security, economy and global risks fuel anxiety

Europeans call for stronger EU action as security, economy and global risks fuel anxiety Europeans call for stronger EU action as security, economy and global risks fuel anxiety
  Growing geopolitical instability is reshaping how Europeans view their future — and many are calling on the European Union to respond...
Read More...

G20 Youth turn away from western democracies as global influence shifts East, new report finds

G20 Youth turn away from western democracies as global influence shifts East, new report finds G20 Youth turn away from western democracies as global influence shifts East, new report finds
  Young people across the world’s major economies are no longer instinctively drawn to Western liberal democracies, according to new...
Read More...

EU approves €614 million payment to Czechia as housing, green transport and energy reforms advance

EU approves €614 million payment to Czechia as housing, green transport and energy reforms advance EU approves €614 million payment to Czechia as housing, green transport and energy reforms advance
  The European Commission has approved Czechia’s fifth payment request under the EU’s Recovery and Resilience Facility, unlocking €614...
Read More...

Dutch universities urged to speak out more strongly for Jewish student safety after campus protests

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  Dutch universities are being urged to take a clearer and more public stand in support of Jewish students and staff who say they feel...
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Council of Europe chief Alain Berset visits Belgium to push democratic security and rule of law

Council of Europe chief Alain Berset visits Belgium to push democratic security and rule of law Council of Europe chief Alain Berset visits Belgium to push democratic security and rule of law
  Democratic security and the future of Europe’s rule-based order will be at the heart of the first official visit to Belgium by Alain...
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Council of Europe urges governments to treat young people as equal partners in democracy

Council of Europe urges governments to treat young people as equal partners in democracy Council of Europe urges governments to treat young people as equal partners in democracy
  The Parliamentary Assembly of the Council of Europe has renewed its call for stronger youth participation in democratic life, warning...
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The EU executive on Friday unveiled a raft of measures to protect the European economy from the coronavirus outbreak, and promised it would do whatever it takes for hardest-

hit Italy.

The assurances by EU Commission chief Ursula von der Leyen came a day after ECB head Christine Lagarde stoked fury in Rome by implying that shoring up Italy's precarious financial situation was not her job.

The answer by Brussels was made ever more urgent as the EU predicted that a recession, maybe even a very deep one, was very likely for all of Europe this year.

Von der Leyen said the commission, the EU's powerful bureaucracy, would try to provide Italy with whatever it needs to overcome the challenge of the coronavirus.

"Whatever is necessary, we support. Whatever they will need, we will answer," von der Leyen, a close ally of German Chancellor Angela Merkel, told reporters.

- 'Maximum flexibility' -

The commission's firepower to save Rome and others is limited and would mainly involve reallocating unused EU spending, as well as giving governments a free pass to bail out businesses.

Brussels would also loosen rules on running high public debt and deficits, a sensitive topic for financially overstretched Italy.

Italian Economy Minister Roberto Gualtieri welcomed the commission's decision "with satisfaction".

Von der Leyen said member states would receive "maximum flexibility" to boost spending beyond the legal limits, a promise that will also help France and Belgium, both chronic overspenders.

Countries "should feel comfortable to take all the necessary measures", she said.

Known as the stability and growth pact, the rules theoretically limit a country's deficit to three percent of annual output and debt to 60 percent, a number that Italy has more than doubled in recent years.

Italy's debt pile will grow even more after it announced 25 billion euros in extra spending to pull itself out of its crisis.

All eyes now are on a meeting Monday of EU finance ministers who between them have the financial muscle to earn respect on markets that have been punished by the virus fallout.

This is especially pressing after the ECB's Lagarde was forced to row back her dismissal of Italy's debt problem in Frankfurt on Thursday.

An EU official meanwhile warned that growth in the eurozone and across the EU would fall below "and potentially considerably below" zero in 2020.

Von der Leyen's intervention followed several days of criticism for the EU's lack of collective response, which was most exposed by a series of border closures among partner member states.

In the latest example, the Czech Republic announced that as of Monday, it would ban all foreigners from entering the country and all Czechs from leaving.

Other member states including Austria, Slovenia and Hungary have suspended the rules of the passport-free Schengen travel zone and reimposed border checks, particularly with Italy.

- 'Bans not effective' -

"Certain controls may be justified, but general travel bans are not seen as being the most effective by the World Health Organization," von der Leyen said, calling instead for health screening at borders.

Such tests could be carried out either at borders or within member state territory.

"Any measure that is taken must be proportionate," she said.

Home affairs commissioner Ylva Johansson will present proposals on screening to a meeting of the 27 EU interior ministers later on Friday.

The European response to the virus has stepped up dramatically in the last 24 hours with several countries including France, Ireland and Belgium closing schools and universities.

Italy has imposed the continent's toughest response to a pandemic that has killed 1,016 people and infected more than 15,000 in the peninsula in less than three weeks.

The government has shut all shops apart from pharmacies and groceries in the hope of stemming contagion and easing the burden on Italy's overstretched hospitals.

Von der Leyen said the EU is also taking steps to deal with a shortage of protective equipment such as masks, after several countries including Germany and France abruptly banned exports to guard their own supplies.

She said that after talks, Paris and Berlin had relented and are now "willing to adapt their national measures, as we requested".AFP

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