Mario Draghi, President of the ECB, Vítor Constâncio, Vice-President of the ECB, Frankfurt, Main, 10 March 2016 Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council, which was also attended by the Commission Vice-President, Mr Dombrovskis. Based on our regular economic and monetary analyses, we have conducted a thorough review of the monetary policy stance, in which we also took into account...

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The European Commission and the European Supervisory Authorities should conduct an in-depth assessment of the effect of increasing capital requirements in current and future legislation on credit supply, especially to small and medium sized companies, Parliament says in a resolution on the state of the Banking Union which was adopted on Thursday. MEPs support the necessity of a well-capitalised banking system, while noting that the risk of limiting banks' lending capacity should be carefully assessed when determining the level of...

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The EU in 2015 Do you want to know what the EU achieved in 2015? What progress it made in delivering on its priorities? The measures it took to boost jobs, growth and investment? The part it played in the climate deal achieved in Paris? How it handled the refugee crisis? And how EU citizens benefited from the Union? You can find the answers to all these questions and more in The EU in 2015.

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This Friday, the President is traveling to Austin, Texas to visit South by Southwest—a gathering of our most creative thinkers, coders, makers, and entrepreneurs from across the country—because he recognizes the importance of technology in America’s position as the global leader in innovation.  Today, as part of the lead-up to that visit and on the one-year anniversary of the launch of the TechHire initiative, the Administration is announcing new steps to further develop the tech skills of our workforce—driving the...

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Next year’s EU budget priorities should continue to be tackling the migration and refugee crisis while at the same time investing more and better to accelerate today’s slow economic recovery, MEPs say in a resolution voted on Wednesday. Parliament highlights the problems of long-term and youth unemployment and disparities in economic development across the EU. It also underlines that the refugee crisis will not be a temporary one. MEPs warn that the EU budget has only a limited capacity to...

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The European Investment Bank (EIB) is lending EUR 36.7 million to Österreichische Bundesforste AG (ÖBf AG) to finance the construction of a wind farm in Styria (southern Austria) that will result in a reduction of CO2 emissions. This will be the first direct EIB loan to support electricity generation from wind in Austria. It will help to meet the Austrian government’s target of building 2 000 MW of additional wind capacity between 2010 and 2020. The EIB loan will fund the construction...

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Draft rules designed to boost the efficiency and cut the cost of services supplied at EU maritime ports, such as mooring and towage, were voted by Parliament on Tuesday. Ensuring transparency in the setting of fees for using port services and infrastructure, and in any public funding that ports receive, should help to prevent price abuse and market distortions and thus boost trade, MEPs say. But current port service arrangements could remain, provided they meet minimum requirements, they add. The...

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The Commission welcomes today's political agreement by Member States on the automatic exchange of tax-related financial information of multinational companies, known as country-by-country reporting, subject to UK parliamentary scrutiny. The agreement was reached at a meeting of Economic and Financial Affairs ministers in Brussels, less than two months after the European Commission presented its ambitious proposal. The new rules will apply to multinational companies which operate cross-border in the EU. Once implemented, all Member States will have the information they need...

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In the lead up to the President's historic visit to SxSW, today the Administration is announcing the launch of “The Opportunity Project,” a new open data effort to improve economic mobility for all Americans. As the President said in his State of the Union address, we must harness 21st century technology and innovation to expand access to opportunity and tackle our greatest challenges. The Opportunity Project will put data and tools in the hands of civic leaders, community organizations, and...

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On March 2, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Belgium. The recovery is expected to continue at a modest pace in the near term, driven primarily by private consumption, supported by continued low energy prices. However, downside risks loom large, including from the slowdown in emerging markets, financial volatility, and geopolitical stress. In its first year in office, the new government has taken important steps to promote competitiveness, job creation, and...

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