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Eurozone GDP recovered more rapidly than expected post-COVID lockdowns

Increased consumer spending was marked out as a catalyst for a rapid rise in GDP in the EU and eurozone, according to the new report.

Business

Eurozone inflation rises to a 10-year high

The annual inflation rate in the 19 countries that use the euro currency jumped to a 10-year high of 3%, according to a flash estimate from the EU's statistics office Eurostat.

Economy

'All 27 EU countries to fully recovery from COVID crisis in 18 months'

The European Commission President credits the vaccine roll-out and the €750-billion recovery fund as the key elements behind the recovery.

Economy

Europe’s economy slid back into recession as US roared ahead

The European economy officially entered a double-dip recession in the first quarter of the year, as the continent paid the price for slow vaccine rollouts and extended lockdowns.

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Economy

EU governments agree to continue uncapped spending until mid-2022

European Union finance ministers said during a video conference on Tuesday that unlimited spending must be allowed until the recovery from the pandemic is secure.

Economy

Eurozone economy shrank less than feared in 2020 — Eurostat estimate

The EU's statistics agency says early analysis suggests eurozone GDP fell by 0.7% in the last quarter and 6.8% across 2020.

Economy

Economists revise eurozone growth downwards amid second COVID wave

Lockdowns and pandemic-related restrictions were likely to slow down Europe's economic recovery as the ECB cut its predicts for 2021 and beyond.

Economy

New report paints bleak picture of EU unemployment

The unemployment rate for the bloc was at 7.6% in October 2020, up 1% compared to October 2019.

Economy

COVID-19: Euro area economy suffers record drop of 12.1%

Eurostat also expects Gross Domestic Product (GDP) for the whole European Union to have fallen by 11.9 per cent between April and June.

Economy

EU to experience 'even deeper recession' than anticipated

The European Commission announced that the euro area economy will contract by 8.7%, as the lifting of lockdown measures has been more gradual than expected.

Economy

Spain, Ireland and Luxembourg join race for Eurogroup presidency

Whoever takes on the chair of the eurozone group will play a major role in digging Europe out of the coronavirus economic downturn.

Economy

Who will join the race to be the Eurogroup's next president?

It comes after Mário Centeno quit as Eurogroup's president earlier this month.

Economy

Eurogroup chief Centeno says no political reason behind quit decision

He told Euronews it was simply the "end of a cycle". His tenure was due to end and he decided not to apply for a second term, he claimed.

Economy

ECB nearly doubles stimulus programme to tackle virus economic fallout

As the ECB pumps more money into the Eurozone economy to prop up businesses with cheap credit, President Christine Lagarde warns that the speed and scale of the recovery are "highly uncertain".

Economy

The US sees the eurozone as the economy most likely to fold. It should look closer to home ǀ View

America is far from the perfectly functioning currency area so beloved by its European devotees. Rather, the US model of limited government at state level has exposed the fragile nature of the American dream.

Economy

EU forecasts 'recession of historic proportions' this year

"Europe is experiencing an economic shock without precedent since the Great Depression,'' the EU's economy chief Paolo Gentiloni said on Wednesday.

Economy

More financial protection needed from EU: former Greek finance chief

The EU must be there to support member states’ economic recovery from the COVID-19 pandemic, former Greek Finance Minister George Papaconstantinou tells Euronews.

Economy

COVID-19: How will the EU €500bn rescue deal help people and firms?

We explain the EU's coronavirus rescue deal and how it aims to provide safety nets for workers, businesses and EU countries hit by the pandemic.

Economy

IMF: coronavirus pandemic will cause worst economic slump since Great Depression

"The bleak outlook applies to advanced and developing economies alike. This crisis knows no boundaries. Everybody hurts," says International Monetary Fund Managing Director Kristalina Georgieva.

Economy

German economy stagnates as eurozone growth reaches 7-year low

Germany, Europe’s largest economy, has recorded a zero growth between October and December, as manufacturing remained in a slump and exports fell.