“There is now a window of opportunity as well politically and economically to strengthen, to deepen the integration of the Eurozone.”
The Eurogroup has finalised its discussion regarding the second review of Greece's macroeconomic adjustment programme, which is financed by the European Stability Mechanism (ESM).
Dear subscriber to the BEF mailing list, this information is brought to your attention because the topic relates to the discussions held at the 27th Brussels Economic Forum.
Brussels Economic Forum 2017 in Numbers
The EU economic and financial landscape – and economic governance – continues to evolve in 2017.
Euro area annual inflation is expected to be 1.4% in May 2017, down from 1.9% in April 2017, according to a flash estimate from Eurostat, the statistical office of the EU.
The European Investment Bank (EIB) and the Bank Gospodarstwa Krajowego (BGK), the Polish development bank, signed an agreement on 24 May to establish an Investment Platform that will provide some PLN 2.1 billion (approx. EUR 496 million) through 2021 to finance the construction and retrofitting of social and/or affordable housing units, as well as support the construction of associated infrastructure such as roads, drainage, utilities and recreational facilities in different municipalities across Poland.
The Commission welcomed the formal adoption on 29 May of new EU rules to prevent tax avoidance via non-EU countries.
The Commission has welcomed the agreement reached on 23 May by Member States on new measures to help resolve double taxation problems for all citizens and businesses in the EU. Proposed by the Commission only seven months ago, the new rules will allow businesses and citizens to reduce double taxation, one of the biggest obstacles to the functioning of the Single Market.
President of the European Commission, Jean-Claude Juncker, and President of the European Council, Donald Tusk, represented the EU at this year's G7 summit on 26-27 May.
“The time has come to complete the journey we started at Maastricht towards a genuine economic and monetary union, with strong institutions and democratic accountability.”
Following the Commission's White Paper on the Future of Europe presented on 1 March, the Commission has now set out possible ways forward for deepening Europe's Economic and Monetary Union (EMU).
Quotes
The 17th Brussels Economic Forum focused on some of the biggest issues of the day: migration, inequality and the very future of Europe. But while the challenges remain substantial, this year’s event conveyed an air of optimism both on the podium and among delegates during the coffee breaks.
Inequality is an inescapable risk in a fast-changing economy that has fuelled populism in recent years, but be wary of asking the European Union to fix it because it has less influence in the area than national governments, top policy makers and experts warned at the Brussels Economic Forum. European Commission Vice-President Valdis Dombrovskis, said that economic inclusion had leapt to the top of the policy agenda, pointing to surveys showing that eight out of 10 Europeans think the EU should prioritise unemployment, social inequality and migration.
Public consultation on potential restrictions on large payments in cash. Deadline 31 May
Agenda
Public consultation on potential restrictions on large payments in cash. Deadline 31 May
This graph of the week illustrates the estimated influence of various factors on the GDP forecast for the euro area this year, according to the Commission’s economic model. It is based on the box 'Main drivers of growth in 2017 - shock decomposition from an estimated model' taken from the European Commission's spring forecast 2017.
This report by the European Commission presents the findings of the second post-programme surveillance mission to Romania and identifies remaining challenges for the Romanian economy.
