In August, the Economic Sentiment Indicator (ESI) decreased slightly in the euro area (by 0.5 points to 111.6), while it remained stable in the EU (at 112.3).
Seasonally adjusted GDP rose by 0.4% in both the euro area and the EU during the second quarter of 2018, compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the EU.
The first EU-China investment platform backed by the Juncker Plan was launched on 6 August with the completion of the first closing of the Cathay Midcap II fund at EUR 600 million.
The Commission has signed a Memorandum of Understanding on 31 August with Georgia for Macro-Financial Assistance (MFA) of up to EUR 45 million to help Georgia cover part of its external financing needs and support economic reforms.
Meeting on 7 September, euro area finance ministers exchanged views with Roberto Gualtieri, Chair of the European Parliament's Committee on Economic and Monetary Affairs, on the euro area's economic outlook and challenges.
"The euro must become the face and the instrument of a new, more sovereign Europe."
In his last State of the Union Address delivered on 12 September, European Commission President Jean-Claude Juncker proposed to strengthen the international role of the euro and highlighted the need for deeper Economic and Monetary Union.
The paper examines shifts over time in the link between survey data and ‘hard’ economic data and suggests that business and consumer survey results can be useful in complementing the assessment of potential growth.
Agenda
Re-imagining the Brussels Economic Forum 2019
The EU economic and financial landscape – and especially economic governance – has evolved dramatically since the first issue of ECFIN e-news was published in December 2009.
The European Commission and the European Investment Bank (EIB), together with the German KfW, the Italian Cassa depositi e prestiti and France’s Caisse des Dépôts, have announced the first pooled EUR 420 million for the Connecting Europe Broadband Fund to finance broadband network infrastructure across underserved areas in Europe.
The Commission has adopted a decision to activate the enhanced surveillance framework for Greece.
During a Eurogroup meeting on 12 July euro area finance ministers discussed the outcome of the Euro Summit, which took place on 29 June.
Growth is set to remain strong in 2018 and 2019, at 2.1% this year and 2% next year in both the EU and the euro area, according to the Summer 2018 Interim Economic Forecast released on 12 July.
The Euro Summit agreed, as promised in December, to progress on the completion of the Banking Union and to strengthen the European Stability Mechanism, including by providing the backstop to the single resolution fund.
Meeting on 29 June in the EU27 format for the Euro Summit, EU leaders agreed on the need to continue moving forward with the completion of the Banking Union, and that work should start on a roadmap for beginning political negotiations on the European Deposit Insurance Scheme.
Last chance: imagine BEF 2019
Reminder: Imagine the Brussels Economic Forum 2019
New Chapter for Greece
