The board of the European Investment Bank today approved nearly EUR 7 billion of new loans expected to support investment in strategic energy, key roads, broadband, flood protection, university expansion and reforestation, as well as initiatives to enhance access to finance by small businesses across Europe and around the world. Meeting at the EIB’s headquarters in Luxembourg, representatives of the EIB’s shareholders, the 28 EU member states and the European Commission, also discussed the EIB’s emergency response to the refugee...

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In 2014, the government deficit of both the euro area (EA19) and the EU28 decreased in absolute terms compared with 2013, while the government debt rose in both zones. In the euro area the government deficit to GDP ratio decreased from 3.0% in 2013 to 2.6% in 2014, and in the EU28 from 3.3% to 3.0%. In the euro area the government debt to GDP ratio increased from 91.1% at the end of 2013 to 92.1% at the end...

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The EU’s new trade and investment strategy, launched October 14, is designed to be more effective, transparent, and reflective of EU values, including sustainable development, human rights, fair and ethical trade, and the fight against corruption. It is intended to benefit as many people as possible—including workers, consumers, small and medium-sized businesses, and  trading partners in developing countries. As the world’s largest exporter and importer of total goods and services, the largest foreign direct investor, and premier destination for foreign direct...

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Europe's Economic and Monetary Union (EMU) is in much better shape today than it was before the financial crisis. However, despite progress, particularly as regards reinforcement of the economic governance and the launch of the Banking Union, the EMU remains incomplete. Divergence in economic performance across the euro area is significant. With close to 18 million unemployed and many within our societies exposed to risks of social exclusion, more needs to be done to turn the euro area into a...

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Joint press release: European Commission - European Environment Agency on the "Trends and projections in Europe 2015" report The European Union is on track towards meeting and overachieving its 2020 target for reducing greenhouse emissions by 20%, according to a report published today by the European Environment Agency (EEA). The "Trends and projections in Europe 2015" report reveals that greenhouse gas emissions in Europe decreased by 23% between 1990 and 2014 and reached the lowest levels on record. Latest projections by...

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In the October 2015 bank lending survey (BLS), euro area banks reported a net easing of credit standards on loans to enterprises in the third quarter of 2015 (a net percentage of -4% of banks reported that credit standards had become tighter, after -3% in the previous quarter), which was stronger than banks’ expectations in the previous survey round. Competitive pressures were the main factor behind the easing of credit standards on loans to enterprises. Banks reported a net tightening...

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IMF European Department Press Briefing | Washington D.C., October 9, 2015 MR. ADRIANO: Good morning. Thank you all for coming to this Press Briefing of the IMF’s European Department. With us today, is Poul Thomsen, Director; Jörg Decressin, and Philip Gerson Deputy Directors, European Department. Mr. Thomsen will have some opening remarks and then we'll ready for your questions. Poul? MR. THOMSEN: Yes. Good morning and thank you for joining us this morning. Let me start by giving you a few...

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For the first time, an unprecedented alliance of Heads of State, city and state leaders, with the support of heads of leading companies, have joined forces to urge countries and companies around the globe to put a price on carbon. The call to price carbon comes from the Carbon Pricing Panel – a group convened by World Bank Group President Jim Yong Kim and International Monetary Fund (IMF) Managing Director Christine Lagarde - to spur further, faster action ahead of...

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