Latest Economy and Business Announcements

Fri, 2012-02-10 12:16

EU Debt Crisis: ECB leaves key euro zone interest rate unchanged

The European Central Bank (ECB) has opted to leave its benchmark interest rates unchanged at a low 1.0%, as had been expected, even as 17 countries that use the euro struggle with a debt crisis and likely recession.

Fri, 2012-02-10 11:30

EP-Council Deal On Rules For A Safe And Transparent Derivatives Market

After long negotiations a compromise deal on new EU legislation to regulate trade in over-the-counter (OTC) derivatives and make the derivatives market safer and more transparent was struck by Parliament and Council representatives on Thursday. Derivatives trading is widely believed to have contributed to the global financial crisis.

Fri, 2012-02-10 11:30

Monetary Policy Decisions

At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively.

Fri, 2012-02-10 11:30

ECB’s Governing Council Approves Eligibility Criteria For Additional Credit Claims

The Governing Council of the European Central Bank (ECB) has approved, for the seven national central banks (NCBs) that have put forward relevant proposals, specific national eligibility criteria and risk control measures for the temporary acceptance of additional credit claims as collateral in Eurosystem credit operations. Details of these specific national measures will be made available on the websites of the respective NCBs: Central Bank of Ireland, Banco de Espańa, Banque de France, Banca d’Italia, Central Bank of Cyprus, Oesterreichische Nationalbank and Banco de Portugal.

Fri, 2012-02-10 11:30

Introductory Statement To The Press Conference (With Q&A)

Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council, which was also attended by the Commission Vice-President, Mr Rehn.

Fri, 2012-02-10 11:30

The Islamic Development Bank And EIB Join Forces For Cooperation

The Islamic Development Bank and the European Investment Bank today signed a Memorandum of Understanding. On the occasion of a Deauville Partnership meeting in Abu Dhabi, both organizations agreed to join forces for cooperation particularly in the Mediterranean.

Fri, 2012-02-10 11:30

EIB Joins Forces With Three Banks For Cities In Greece

The European Investment Bank (EIB) signed three agreements totalling EUR 158 million for the establishment of Urban Development Funds (UDF) with EFG Eurobank Ergasias, the Investment Bank of Greece (IBG), and Piraeus Bank. These funds will be invested in urban projects in a number of regions in Greece.  The EIB acted in its capacity as the Manager of the JESSICA Holding Fund for Greece.

Fri, 2012-02-10 11:30

India Summit EU27 Trade In Goods With India Increased By 20% In The First Ten Months Of 2011 Trade In Goods Nearly In Balance

EU27 trade in goods with India reached a peak in 2010, after the decrease recorded in 2009 which interrupted a period of growth since 2001. EU27 exports to India fell from 31.3 billion euro in 2008 to 27.4 bn in 2009, then rose to 34.8 bn in 2010. Imports decreased from 29.5 bn in 2008 to 25.4 bn in 2009, then increased to 33.2 bn in 2010. As a result, the EU27 trade surplus with India fell from 2.0 bn euro in 2009 to 1.6 bn in 2010.

Fri, 2012-02-10 11:30

Mr. László Andor Eu Commissioner Addressing Europe's Employment And Social Challenges In A Coordinated Way

Ladies and gentlemen,

I am pleased to open today the conference devoted to our new analytical review: Employment and Social Developments in Europe (ESDE).

Fri, 2012-02-10 11:21

Neelie Kroes Vice President Of The European Commission, Speaks On The Hungarian Media Environment

Thank you for the invitation to speak to you today.

I continue to have grave concerns about the current situation in Hungary.
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