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July 2016: Economic Sentiment resilient in the euro area, but down in the EU driven by the UK

July 2016: Economic Sentiment resilient in the euro area, but down in the EU driven by the UK

In July, the Economic Sentiment Indicator (ESI) remained resilient in the euro area in the wake of the Brexit referendum, marking a marginal increase of 0.2 points (to 104.6), and decreased in the EU (by 0.9 points to 104.8).

 
Commission recommends to cancel fines and to set new fiscal paths for Spain and Portugal

Commission recommends to cancel fines and to set new fiscal paths for Spain and Portugal

Following the Council decision of 12 July 2016 that Spain and Portugal did not take effective action to correct their excessive deficits, the Commission recommended a new fiscal adjustment path for both countries. The College of Commissioners also recommended that the fine be cancelled for both countries.

For more information: press release, memo, press remarks by Vice-President Dombrovskis and Commissioner Moscovici

 
Eurogroup, 11/07/2016 - Main results

Eurogroup, 11/07/2016 - Main results

The Eurogroup discussed the economic situation in the euro area, outcomes of the post-programme surveillance missions in Portugal and Ireland, the budgetary situation in Portugal and Spain, the euro area fiscal stance in 2017 and improving conditions for investment. 

-> Commissioner Moscovici opening remarks at the Eurogroup press conference

 
Stability and Growth Pact: Commission confirms absence of effective action by Spain and Portugal

Stability and Growth Pact: Commission confirms absence of effective action by Spain and Portugal

On 7 July 2016, in response to 2013 Council recommendations, the College of Commissioners adopted recommendations for Council decisions under Article 126(8) TFEU establishing the absence of effective action by Spain and Portugal for the years 2014 and 2015.

For more information: press release, memo and press remarks by Vice-President Dombrovskis and Commissioner Moscovici

 

 
Commission reports on Pericles programme protecting euro banknotes and coins from being counterfeited

Commission reports on Pericles programme protecting euro banknotes and coins from being counterfeited

The European Commission and the European Central Bank are working together to protect euro notes and coins in close cooperation with Europol and Interpol. See the 2015 Commission annual report on the Pericles 2020' programme for the protection of the euro against counterfeiting. For general formation on how the EU is working together to protect euro banknotes and coins from being counterfeited, see this video.