Success will require tighter macroeconomic policies tailored to changing financial conditions, strong financial supervision and regulation, and bold supply-side reforms Following a strong exit from the pandemic, Europe was hit hard by the economic impact of Russia’s invasion of Ukraine. Growth slowed drastically, inflation shot up, and episodes of financial stress materialized. But as a result of decisive policy action, most economies narrowly avoided a recession this winter. Europe now faces the difficult task of sustaining the recovery, defeating inflation,...

The president vows to make the European Economic and Social Committee a true civil society gateway and open its doors to the EU accession countries. In the run-up to the 2024 European elections, the Committee will take on a more active role to stand up for democracy and strive for a more resilient, prosperous and inclusive Europe. The European Economic and Social Committee (EESC) has elected Austria's Oliver Röpke as the 34th president in its 65-year history. Former head of the Brussels...

The EU has a problem with climate catastrophe insurance: only a quarter of the losses from climate-related disasters are covered. Greater coverage could reduce the economic damage that results from them. This joint ECB-EIOPA post for The ECB Blog looks at ways to make this happen. Drought affected two-thirds of the European Union in 2022, likely the worst episode in 500 years. Agricultural production withered, river transport was disrupted and hydroelectric power generation fell, which exacerbated the energy crisis. Just...

The Council today adopted five laws that will enable the EU to cut greenhouse gas emissions within the main sectors of the economy, while making sure that the most vulnerable citizens and micro-enterprises, as well as the sectors exposed to carbon leakage, are effectively supported in the climate transition. The laws are part of the 'Fit for 55' package, which sets the EU’s policies in line with its commitment to reduce its net greenhouse gas emissions by at least 55%...

President Biden, Special Envoy Kerry, Thank you for convening us today and for your continued leadership on climate action. We are the policy makers who can keep global warming below 1.5 degrees Celsius. And we have the tools! With innovation, science, technology and industrial capacity to achieve this goal. Last year, we Europeans produced more electricity from sun and wind than from gas and any other source. And the world's electricity system is now cleaner than ever before. We are on...

For many people, buying a franchise has proven to be a good choice, but like any other financial decision, there is no one-size-fits-all answer to the question “Is a franchise right for me?” Buying a franchise involves a major financial outlay and owning one often requires an “all in” lifestyle commitment. If you’re thinking about whether your future could be in a franchise, follow the FTC Business Blog for a series we’re calling Franchise Fundamentals. We’ll explore some of...

The Commission propose regulation to tackle cyber threats and incidents. On the 18 April 2023, the Commission has adopted a proposal for the EU Cyber Solidarity Act to strengthen cybersecurity capacities in the EU. It will support detection and awareness of cybersecurity threats and incidents, bolster preparedness of critical entities, as well as reinforce solidarity, concerted crisis management and response capabilities across Member States. The Cyber Solidarity Act establishes EU capabilities to make Europe more resilient and reactive in front of...