The EU's economy is now in its seventh consecutive year of growth and is forecast to continue expanding in 2020 and 2021. Labor markets remain strong and unemployment continues to fall. However, the external environment has become much less supportive and uncertainty is running high. This is particularly affecting the
he idea behind the Commission’s proposed European Investment Stabilisation Function (EISF) is to use dedicated financial means from the EU budget to help Member States stabilize their economies in the event of a major asymmetric shock. In the context of EISF, the Commission would borrow on the financial markets and
he global economy started 2018 with strong, synchronized growth. But as the year progressed, momentum faded and growth trends diverged. The US economy accelerated, thanks to fiscal stimulus enacted early in the year, while the economies of the Eurozone, the UK, Japan and China began to weaken. These divergent trends
he Governing Council of the European Central Bank (ECB) concluded a review of the denominational structure of the Europa series back in 2016. It was decided to permanently stop producing the 500 EURbanknote and to exclude it from the Europa series, taking into account concerns that this banknote could facilitate
he United States has the largest economy in the world at $20.4 trillion, according to data from the International Monetary Fund (IMF), which shows the US economy increased from around $19.4 trillion last year. China follows, with $14 trillion, which is an increase of more than $2 trillion in comparison to 2017.
Some 331,000 counterfeit euro banknotes were withdrawn from circulation in the first half of 2016, 25% fewer than in the second half of 2015, the European Central Bank (ECB) announced today. The number of counterfeits remains very low in comparison with the increasing number of genuine banknotes in circulation (over
ourism is an increasingly important source of revenue and driver of growth in many countries in the EBRD region, and especially in the South-Eastern Europe (SEE). Receipts from international tourist arrivals account for more than 10 per cent of GDP in several countries in SEE, with a substantial upward trend
he European Central Bank signed a memorandum of understanding (MoU) with European industry associations, banknote equipment manufacturers and other partners. This strengthens the ECB’s Partnership Programme, which contributed to the smooth introduction of the new €10 banknote in 2014. Memorandum of understanding aims to ensure machines and devices across the euro
he euro was increasingly used as a funding currency by international borrowers in 2014 and early 2015, compared with the previous review period, while the share of the euro in foreign exchange reserves remained broadly stable. These are among the main findings of the report on “The international role of
Monetary Policy Decisions: At the Governing Council meeting, held on November 7th 2013, ECB took the following monetary policy decisions: The interest rate on the main refinancing operations of the Eurosystem will be decreased by 25 basis points to 0.25%, starting from the operation to be settled on 13 November 2013.