According to a new report released by the European Commission, by 2018 the EU’s “app economy” could employ 4.8 million people (up from around 1.8 million) and contribute €63 billion (more than $80 billion) to the EU economy. Currently, EU and North American developers each generate around 42 percent of app revenues in crucial EU and US markets. Key findings from the study include: EU games app developers lead the field: 28 EU companies created 40 percent of the top 100 grossing apps...

Read more

The European Commission's winter forecast foresees a continuation of the economic recovery in most Member States and in the EU as a whole. After exiting recession in spring 2013 and three consecutive quarters of subdued recovery, the outlook is for a moderate step-up in economic growth. Following real GDP growth of 1.5% in the EU and 1.2% in the euro area in 2014, activity is seen accelerating in 2015 to 2.0% in the EU and 1.8% in the euro...

Read more

Euro area annual inflation was 0.8% in January 2014, stable compared to December 2013. A year earlier the rate was 2.0%. Monthly inflation was -1.1% in January 2014. European Union annual inflation was 0.9% in January 2014, down from 1.0% in December 2013. A year earlier the rate was 2.1%. Monthly inflation was -0.9% in January 2014. Inflation rates – detailed figures More on Harmonized Indices of Consumer Prices (HICP) Employment: vacancy trends reveal growing North-South divide in EU labour market Vacancy...

Read more

Ministers held a debate on industrial competitiveness on the basis of the Commission communication “For a European Industrial Renaissance”. They also held a debate on the Commission's Annual Growth Survey (AGS) for 2014. The main results of the Council included: Industrial competitiveness Ministers held a debate on industrial competitiveness on the basis of the Commission communication “For a European Industrial Renaissance”, which proposes that industrial competitiveness concerns be systematically mainstreamed across relevant EU policy areas such as environmental, climate, energy, trade,...

Read more

The EU finance ministers on 18 February discussed the possible adjustments to the Council's general approach reached in December 2013 on the single resolution mechanism. The discussion was held with a view to giving more flexibility to the presidency in the forthcoming "trilogue" negotiations with the European Parliament on the establishment of the single resolution mechanism (SRM) – one of the key elements of Europe's future banking union. While not diverging from the key elements of the general approach, the ministers...

Read more

According to a European Commission report on the current status of EU industry, most sectors have still not regained their pre-crisis level of output and significant differences exist between sectors and Member States. According to a European Commission report published today on the current status of EU industry, most sectors have still not regained their pre-crisis level of output and significant differences exist between sectors and Member States. The "EU industrial structure report 2013: Competing in Global Value Chains" sheds...

Read more

  After the meetings with USTR Froman, Commissioner De Gucht will hold a press conference at 12:45 PM, which can be followed live on EbS . The Commissioner will also hold a speech at the Atlantic Council afterwards (on C-SPAN). Press Statement by EU Trade Commissioner Karel De Gucht following the stocktaking meeting with USTR Michael Froman on the Transatlantic Trade and Investment Partnership (TTIP): Good afternoon, ladies and gentlemen. After three rounds of talks for the Transatlantic Trade and Investment Partnership (TTIP)...

Read more

Directly following the conclusion of the political stock-taking exercise with US Trade Representative Ambassador Michael Froman, European Commissioner for Trade Karel De Gucht will offer his own unique insights on prospects for the ongoing transatlantic trade talks and to assess progress achieved so far. Please join the Atlantic Council this afternoon at 1:45 p.m. EST for a live webcast of our conversation with Commissioner De Gucht on the latest developments in the negotiations and map out where the two sides...

Read more

What are the main future cybercrime threats on the horizon? And how has the European Cybercrime Center (EC3) contributed to protect European citizens and businesses since its launch in January 2013? These questions are at the core of an EC3 report presented today, and discussed at a conference organised by the Commission, with participants from law enforcement authorities, national and EU institutions and the private sector. "Criminal behaviour is changing fast, exploiting technological developments and legal loopholes. Criminals will continue to...

Read more

Staff teams from the European Commission (EC), European Central Bank (ECB), and the International Monetary Fund (IMF) visited Nicosia during January 29-February 11, 2014 for the third review of Cyprus's economic programme, which is supported by financial assistance from the European Stability Mechanism (ESM) and the IMF. The objectives of Cyprus’s programme are to restore financial sector stability, strengthen public finance sustainability, and adopt structural reforms so as to support long-run growth, while protecting the welfare of the population....

Read more