European Council agrees to zero fines and new deadlines for Portugal and Spain
It also stepped up the excessive deficit procedure for both countries, setting new correction deadlines and giving notice of measures to be taken.
Read more
econ/biz
Unemployment: Eurozone average down to 10.1%; Greece’s remains the highest: 23.3%
The euro area seasonally-adjusted unemployment rate was 10.1% in June 2016, stable compared to May 2016 and down from 11.0% in June 2015. This remains the lowest rate recorded in the euro area since July 2011.
Read more
EU: the fight for fair taxation
Since the start of the economic and financial crisis, MEPs have been pushing for greater transparency and an end to unfair tax practices.
Read more
Commission refers Greece to Court
The Commission has decided to refer Greece to the European Court of Justice because it failed to comply with a 2008 Commission decision ordering the recovery of unlawful aid to Hellenic Shipyards.
Read more
IMF on Greece’s reform priorities, progress
IMF: Greece’s reform priorities: Preserve and further expand labour market flexibility; foster competition in service and product markets; improve the business environment.
Read more
EBRD adopts strategy for Greece
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has adopted a strategy for Greece, which sets out the Bank’s priorities for its investment activities in the country.
Read more
Deficits below 3% of GDP for Cyprus, Ireland and Slovenia
The European Council on Friday closed excessive deficit procedures for Cyprus, Ireland and Slovenia, confirming that they have reduced their deficits below the EU’s 3% of GDP reference value.
Read more
ESM Board of Directors approves €7.5 billion disbursement to Greece
The country will use the €7.5 billion to meet debt servicing obligations and to help clear domestic arrears.
Read more
EWG approves the disbursement of 7.5 bn euros to Greece
The Euroworking Group’s decision on the review of Greece’s economic program was poisitive.
Read more
Maritime energy is diversifying in response to future trends
The industry seems to be in a consensus that LNG as a fuel for shipping is here. The infrastructure required for it is happening, it is no longer on paper.
Read more