Speech by Luis de Guindos, Vice-President of the ECB, at La Granda courses, Asturias, 31 August 2018 It is a pleasure to be here at La Granda courses in Asturias. In my remarks today, I would like to review the economic developments in the euro area, explain our recent monetary policy decisions and reflect on the necessary reforms of Economic and Monetary Union, or EMU. Recent economic developments Economic growth in the euro area remains solid and broad-based, as confirmed by the...

Following the conclusion of the EU-Japan talks on personal data protection in July 2018, the Commission launched today the procedure for the adoption of its adequacy decision. Commissioner Jourová today briefed the College on the next steps and the Commission is publishing the draft adequacy decision and the related documents. This includes the additional safeguards that Japan will apply to EU personal data transferred to Japan, as well as commitments regarding access to personal data by Japanese public authorities for law enforcement...

In light of the difficulties faced by European farmers affected by drought this summer, the European Commission continues acting to provide practical support to the sector. Additional flexibility will be granted to help farmers provide sufficient feed to their animals. The European Commission presented today an additional package of actions aimed at increasing the availability of fodder resources for livestock, one of the main challenges faced by farmers dealing with the impact of drought. This package complements the measures already announced...

EUR 500 million EIB loan will be used to accelerate research and development of 5G tech Loan backed under European Fund for Strategic Investments, part of successful Juncker Plan Finnish multinational telecommunications, information technology, software and services company Nokia today signed a EUR 500 million loan transaction with the European Investment Bank (EIB), supported by the European Fund for Strategic Investments (EFSI), a key element of the Investment Plan for Europe, also known as the Juncker Plan. Nokia will use the loan...

Greece has successfully concluded a three year European Stability Mechanism (ESM) stability support programme with its place at the heart of the euro area and European Union secured. The successful conclusion of the programme is a testament to the efforts of the Greek people, the country's commitment to reform, and the solidarity of its European partners. European Commission President Jean-Claude Juncker said: "The conclusion of the stability support programme marks an important moment for Greece and Europe. While their European partners have demonstrated...

On May 23, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Netherlands.  The Netherland’s economic recovery has taken hold. Real growth is forecast to reach 3.1 percent in 2018 owing to robust domestic demand. Private consumption has been supported by rising disposable income and positive wealth effects from increasing house prices. Net exports have proven resilient to global uncertainties, pushing up the already large current account surplus. Unemployment has continued to decline rapidly,...