European Directorate-General for Economic and Financial Affairs

Euro zone economic confidence declines in November

BRUSSELS, Nov 27, 2008 (Xinhua via COMTEX) -- Economic confidence in the euro zone in November declined to its lowest level since August 1993, a survey from the European Commission showed Thursday. The economic sentiment...

TOPWRAP 3-China downturn deepens, eurozone woes could linger (AFX)

By Tomasz Janowski and Keith Weir SINGAPORE, Nov 27 (Reuters) - China warned on Thursday its economic downturn was deepening with the spread of the global financial crisis and a senior European policymaker said woes could...

WRAPUP 2-Big ECB cut seen as euro zone optimism hits 15-yr low

By Jan Strupczewski BRUSSELS, Nov 27 (Reuters) - Euro zone economic sentiment hit 15-year lows in November and inflation expectations among companies and households fell off a cliff, boosting expectations of a bigger than...

China calls off EU summit over Dalai Lama visit

BRUSSELS (Reuters) - China, angry at plans for Tibet's spiritual leader the Dalai Lama to visit Europe, has called off a summit with the European Union next Monday which may have forged a joint response to the global economic...

China, Europe Plan New Steps To Help Economy

Responding to rapidly deteriorating economic conditions, officials on two continents announced major steps on Wednesday to try to pump some life back into their economies. The European Commission proposed a sweeping...

EU unveils €200bn plan for recovery

As nations strive to deliver Keynesian boosts to their economies, Europe's leaders say its move is not a 'one-size-fits-all' action. He is hoping that, at the EU summit next month, the EU's 27 member states will agree to a...

EU Makes More Stimulus Recommendations

BRUSSELS -- The European Union Tuesday proposed €200 billion ($258.6 billion) in government spending to head off a disastrous economic slump, in a move that would test EU limits on budget deficits. The recommendations by the...

HIGHLIGHTS-EU's Barroso, Almunia on stimulus plan (at Reuters)

BRUSSELS, Nov 26 (Reuters) - The following are comments by European Commission President Jose Manuel Barroso and Economic Affairs Commissioner Joaquin Almunia on Wednesday after the Commission issued a stimulus plan to revive...

Brussels to allow member states to reduce VAT rates - Summary

Brussels - The European Commission is to allow member states to reduce their value added tax (VAT) rates to boost consumption during the recession, officials in Brussels said Tuesday. The European Union's executive arm will...

ECB Should Consider If There is Room for Further Cuts, Says EU's Almunia

Frankfurt - EU Commissioner for Economic and Monetary Affairs Joaquin Almunia said that with inflation expectations dropping due to slowing economic activity, the European Central Bank should consider whether it has more room...