An executive member at the European Central Bank says a digital euro could protect the Eurozone’s monetary sovereignty from outside influence. Source link
Eurozone
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The 19 euro-area countries experienced the biggest GDP drop on record during the height of the coronavirus pandemic. The eurozone economy shrank 12.1 percent, while the EU economy as a whole contracted 11.9 percent. The second-quarter preliminary reading is the lowest since records by the region’s statistics office Eurostat began in 1995. The 19-member bloc that shares the euro currency had experienced a fall of 3.6 […]
The seasonally adjusted unemployment rate for the euro area inched higher in June, reaching 7.8 percent, as Covid-19 containment measures started being phased out in most EU member states. That’s worse than the 7.7 percent rate which had been expected by EU statistical office Eurostat. According to its data, the unemployment rate across the European Union also grew from 7.0 percent in May to 7.1 percent […]
The impact of the Covid-19 pandemic on the eurozone economy has been significant, according to the European Central Bank (ECB), increasing the underlying financial vulnerabilities of the euro area. The ECB’s May 2020 Financial Stability Review suggests that the euro governments’ vast fiscal response to the pandemic could raise questions over their ability to repay debts, and could revive the threat of countries leaving the single currency. “Should […]
Europe 09:15 GMT 06.05.2020Get short URL https://cdn1.img.sputniknews.com/img/107849/38/1078493881_0:19:1392:802_1200x675_80_0_0_7238dce417661f4dcf6a923d46a7fdb3.jpg Sputnik International https://cdn2.img.sputniknews.com/i/logo.png Sputnik https://cdn2.img.sputniknews.com/i/logo.png https://sputniknews.com/europe/202005061079210967-eurozone-gdp-to-see-77-decrease-in-2020-amid-covid-19-pandemic/ MOSCOW(Sputnik) – The eurozone GDP will see a 7.7 percent decrease in 2020 amid the coronavirus pandemic, after growing by 1.2 percent in 2019, and it will then increase by 6.3 percent in 2021, the European Commission said on Wednesday in its fresh forecast. The European Commission downgraded its forecast on Germany’s GDP […]