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Following today’s meeting of the European Central Bank’s (ECB) Governing Council, ECB President Christine Lagarde announced that the euro area economy is continuing to recover and the labour market is improving further, helped by ‘ample policy support’. The ECB has decided not to raise interest rates despite inflationary pressure. In more measured tones Lagarde said […]
Moreover, he has tried to reach a consensus on the reform of the Stability Pact with an admirable twist: both the frugal countries led by Vienna and the indebted ones like Italy. What did he do? He doesn't want to close credit for those who ... ...
After public debt figures in the eurozone were released, member states now have to take a position on the future of the EU budget. Although it is the 3rd best performer in terms of budgetary discipline, Luxembourg will have to choose between joining Germany's more conservative camp or France's progressive one.
TPTG analyse the crisis in Greece and how it is influencing capitalist restructuring, and how the working class is responding to the resulting austerity measures.
The bloc's fiscal rulebook has been suspended until next year to stave off any unwanted economic consequences of the pandemic.