On 27 November 2024, in a speech to the European Parliament, President of the European Commission Ursula von der Leyen announced her decision to convene a Strategic Dialogue on the Future of the Automotive Industry in Europe. The Dialogue will be officially launched already in January 2025, with a view to swiftly proposing and implementing measures the sector urgently needs. Commission President, Ursula von der Leyen, said: “The automotive industry is a European pride and is crucial for Europe's prosperity. It drives innovation, supports millions of...

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Cash most frequently used payment method in stores, although use has continued to decline Share of digital payment instruments continues to increase in value terms, with cards still dominant and share of mobile apps on the rise Majority of consumers value having option to pay with cash The European Central Bank (ECB) today published the results of the latest study on the payment attitudes of consumers in the euro area (SPACE). Despite the trend towards digital payments, the number...

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Blog post by Colm Bates, Vasco Botelho, Sarah Holton, Marc Roca I Llevadot and Mirko Stanislao | The growth of negotiated wages is expected to ease in 2025. This is the information emerging from the ECB wage tracker, which we will publish on a regular basis from now on. The ECB Blog explains the tool and how it can help monitor wage pressures in the euro area. Wages are an important driver of domestic goods and services inflation. Most wages are...

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Europe's industry has increased its investment in research and development (R&D) by 9.8% in 2023, surpassing the growth of corporate R&D investment in the US (+5.9%) and China (+9.6%) for the first time since 2013, according to the new edition of the EU Industrial R&D Investment Scoreboard published today. In 2023, the EU was second globally in R&D private investment (18.7%), trailing the US (42.3%), but ahead of China (17.1%), Japan (8.3%) and countries in the rest of the world (13.6%)....

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The success of government interventions depends not just on how much is spent, but on spending it well. Blog post by: Alfred Kammer, Andrew Hodge, Roberto Piazza | Industrial policy is having a moment in Europe, as countries increasingly turn to sectoral policy interventions to address the challenges of geopolitical fragmentation and economic security, enhance productivity, and accelerate the green transition. State aid spending by European Union countries has tripled in the last decade, reaching 1.5 percent of GDP. Much of this...

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Ladies and gentlemen, It is a privilege to address you today as we celebrate two remarkable milestones. First, congratulations to Lithuania on 10 successful years in the euro area. This is a testament to your commitment to European integration and stability. Second, let us celebrate 25 years of the Euro itself, a currency that has become a global symbol of unity and resilience. And speaking of success, European policymakers deserve recognition for their extraordinary responses to the recent crises. Their swift...

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Tomorrow, the new rules under the General Product Safety Regulation enter into application, ensuring that all non-food consumer products, sold offline or online on the EU market, are safe. The rules also clarify the obligations for businesses and help ensuring a level-playing field. The new Directive replaces the current General Product Safety Directive  and the Food Imitating Product Directive, which will bring significant improvements for consumers and authorities. Michael McGrath, Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, said: “The volume of online sales has...

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Today, in Valencia, the CitiVerse European Digital Innovation Consortium (EDIC) was officially established during its inaugural general assembly. This milestone marks a new era in cooperative smart city development, setting a new global benchmark in this area. The CitiVerse EDIC will deliver AI-based solutions to enhance urban planning in European cities. These solutions will provide reusable tools for essential urban management, such as for improved management of traffic, energy, and water. The EDIC will develop immersive, virtual worlds-based technologies to transform how citizens shape their cities...

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