In April 2014, the DG ECFIN flash estimate of the consumer confidence indicator increased in both the EU (by 0.8 points to -5.8) and the euro area (by 0.6 points to -8.7) compared to March. Computation of Flash CCI To compute the flash consumer confidence indicator for the EU and euro area, DG ECFIN uses the data available on the cut-off date. The estimation procedure combines historical data with information from those Member States for which data are available in the...

Read more

Spring into Action!   Starting next month, New York businesses will be able to take advantage of Governor Cuomo's next round of economic incentives. Over $700 million will be available through a competitive application process. Awards will include: • capital grants for major projects meeting a region's economic goals • tax credits for up to 10 years for qualified businesses creating jobs or making significant investments in their space or machinery • energy benefits • grants to alleviate stormwater runoff (eg, for green roofs, bioswales) • grants...

Read more

Brussels, 17 April 2014 || The European Union is currently focusing its efforts on  de-escalating the crisis in Ukraine. The EU calls on all sides to continue engaging in a meaningful and inclusive dialogue leading to a lasting solution; to protect the unity and territorial integrity of the country and to strive to ensure a stable, prosperous and democratic future for all Ukraine's citizens. The EU has also proposed to step-up its support for Ukraine's economic and political reforms. A priority...

Read more

EU workers moving to a different EU country will be able to take their full pension rights with them thanks to a draft law passed by Parliament on Tuesday. It still needs to be formally approved by the Council of Ministers. "The text represents a genuine improvement for many workers. It is a big step forwards for the free movement of workers and a boost for a social Europe", said rapporteur Ria Oomen-Ruijten (EPP, NL), adding that "a good pension...

Read more

  Three measures to ensure that banks shoulder the risks of failure rather than relying on taxpayers to bail them out were approved by Parliament on Tuesday. Two deal with restructuring and winding down troubled banks, and the third ensures that banks, not taxpayers, guarantee deposits under €100,000 in the event of a run on a bank. These measures complement the single bank supervision system, already in place, and take the EU far down the road towards banking union. Parliament...

Read more

The European Parliament, in today’s plenary session, adopted 3 key texts that complete the legislative work underpinning the Banking Union (Single Resolution Mechanism, Bank Recovery and Resolution Directive, and Deposit Guarantee Schemes Directive). Addressing the EP plenary, representing the Council of the EU, Deputy Prime Minister and Foreign Minister Evangelos Venizelos said that “the Banking Union has been created in under two years. It has been a Herculean task, but one that will enable Europe to emerge stronger from the...

Read more