Today, the Council has reached an agreement on amending the European climate law (ECL), introducing a binding intermediate climate target for 2040 of a 90% reduction in net greenhouse gas (GHG) emissions, compared to 1990 levels. This new target is a crucial step towards the EU’s long-term goal of achieving climate neutrality by 2050. The amendment also sets out some areas of flexibility and key elements for the 2040 target and for the post-2030 climate framework. These will steer the Commission’s future legislative proposals to...

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Speech by Alfred Kammer, Director, IMF European Department, at the House of the Euro, Brussels Thank you, , for the kind welcome and the ECB for hosting us again here in Brussels at the House of the Euro. The year 2025 marked a period of profound transformation in the global economy, driven by a reconfiguration of trade policies. For Europe, these developments follow a series of crises—from the pandemic, to Russia’s invasions of Ukraine—that have tested the region’s resilience. Timely policy action has helped avoid the worst, and...

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By Ferdinand Dreher and Nils Hernborg, ECB Many Bulgarians are still hesitant about giving up the Lev on 1 January. Mixed feelings are not uncommon in countries adopting the euro. However, survey data show that support significantly increases once people start using the euro in their daily lives. When countries prepare to adopt the euro, public sentiment is often hesitant or split. People tend to worry about prices going up, as well as a loss of their country’s sovereignty or sense...

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Today, the European Commission adopted its annual Enlargement Package, presenting a comprehensive assessment of the progress made by the enlargement partners over the past twelve months. This year's package reaffirms that the momentum for enlargement stands high on the priority agenda of the EU. It also confirms that the accession of new Member States is increasingly within reach. Staying consistent and following a merit-based approach is key to successful EU accession. Montenegro, Albania, Ukraine, the Republic of Moldova, Serbia, North Macedonia,...

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Speech by Christine Lagarde, President of the ECB, at the high-level conference on “Bulgaria on the Doorstep of the Eurozone”, jointly organised by the Bulgarian Ministry of Finance and Българска народна банка (Bulgarian National Bank) On 1 January 2026 Bulgaria will adopt the euro as its currency. The change will happen in a single night, but it is the outcome of a much longer journey. Bulgaria has long been part of Europe’s monetary story. From the lev’s peg to the...

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Today, at the European AI in Science Summit in Copenhagen, organised by the European Commission and the Danish Presidency of the Council of the EU, Executive Vice-President Henna Virkkunen and Commissioner Ekaterina Zaharieva launched the pilot of RAISE – the Resource for Artificial Intelligence Science in Europe. This new virtual institute is a flagship initiative under the Apply AI Strategy and the European Strategy for Artificial Intelligence (AI) in Science. It will bring together essential resources for developing AI and applying it to drive transformative scientific breakthroughs: from improving...

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Trade policy measures to enhance agricultural sustainability and environmental clauses in trade agreements are on the rise, reflecting governments’ efforts to enhance the sector’s long-term resilience. But a new OECD report warns that reducing agriculture’s environmental footprint while improving food security will require reforming support and redirecting public spending toward research, innovation, and sustainable farming.  OECD Agricultural Policy Monitoring and Evaluation 2025, the global reference on government support policies for agriculture across 54 countries representing 75% of global agriculture value...

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Eurosystem moving to next phase of digital euro project I am pleased to inform you that the Governing Council of the European Central Bank (ECB) has decided to move to the next phase of the digital euro project. This decision follows the successful completion of the preparation phase, launched by the Eurosystem on 1 November 2023, during which the interaction with the Committee on Economic and Monetary Affairs (ECON) has been invaluable. In that regard, we are grateful for the...

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Governor Kathy Hochul today has been named to the 2025 TIME100 Climate list, recognizing the 100 most influential global leaders driving business climate action. View the full list on TIME’s website. “I’m proud that New York’s work to build a cleaner, more resilient future is being recognized on a global stage by such an esteemed publication as Time Magazine,” Governor Hochul said. “Our approach is rooted in partnership and practicality: supporting innovation, protecting communities, and ensuring New York’s future is both sustainable and...

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