The economic crisis has prompted intense and sustained action by the EU's national governments, the European Central Bank and the Commission. All have been working closely together to support growth and employment, ensure financial stability, and put in place a better governance system for the future.
2013 has started on a more hopeful note for the euro area, as a euro area. It is now clear that the euro is an irreversible project. There are several signs that the worst is now behind us. In most countries, even those under pressure from the markets – from Greece to Portugal, from Ireland to Italy to Spain – budgetary positions are looking healthier, exports are picking up, on the financial side, spreads are coming down, and financial fragmentation within the euro area is easing.
"The EU has jointly made significant strides in 2012. Our policy agenda for the present year 2013 is also ambitious. Making it happen requires teamplay and responsibility from all of us, so that we can restore confidence in a lasting manner and return over time to a solid path of sustainable growth and job creation."
European Commission Press release Brussels, 30 January 2013 January 2013January 2013 In January 2013, the Business Climate Indicator (BCI) for the euro area remained broadly unchanged at -1.09. While their assessment of current order books (overall and export) worsened, industry managers became less pessimistic in their production expectations and assessments...
European Commission Press release Brussels, 30 January 2013 January 2013January 2013 In January the Economic Sentiment Indicator (ESI) increased by 1.4 points in both the EU (to 90.6) and the euro area (to 89.2)1. In the EU, confidence improved in services, construction, retail trade and among consumers, while deteriorating slightly...
The Eurogroup appointed Jeroen Dijsselbloem as its president for a term of two and a half years.
The Eurogroup notes with satisfaction that the MoU milestones for January, agreed between Greece and the Troika, have been achieved.
The Steering Committee of the Vienna 2 Initiative met in Vienna on 14 January, 2013 to discuss deleveraging trends, asset quality, and next steps towards a banking union in light of the EU Council’s decisions in December 2012. Steering Committee members also met with key banking groups operating in Central, Eastern, and South-Eastern Europe in a subsequent meeting, chaired by European Bank for Reconstruction and Development President Sir Suma Chakrabarti. European Investment Bank Vice President Wilhelm Molterer provided the concluding remarks.