EU to Allocate Frozen Russian Assets to Aid Ukraine
The EU has made a significant decision to allocate profits from its frozen Russian assets to support Ukraine's self-defense and recovery efforts amidst ongoing Russian aggression
The president of the most influential German economic institute, IFO Clemens Fuest, is not expecting the events in Spain and the possible secession of Catalonia to lead to turbulence in the currency union, sega said.
Catalonia is a very big problem for Spain, but I would not describe it as a risk to the euro area as a whole. And even if it comes to separation from Spain, Catalonia is very small and will be isolated. So I do not expect to have a serious impact on the currency union, the president says.
In the Horizon interview, Clemens Fuest warned: Europe faces a new debt crisis. In his words, the biggest problem of the currency union is now Italy.
I think Wolfgang Schaeuble is quite right. If we continue in the same way, we are facing a new debt crisis that is deeper than the one we have experienced. Debt in the eurozone countries is growing and is now close to 100% of GDP, the president of the institute added.
Clemens Fuest is categorical that while the eurozone is not stabilized, there is no possibility of expanding it.
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Bulgaria’s prospects for joining the euro in 2025 have been bolstered by a cooling annual inflation rate, which dropped to the eurozone average of 2.4% in April, marking its first dip below 3% since the summer of 2021
In April, inflation across the European Union remained steady, with both the EU and the Eurozone recording a rate of 2.6% and 2.4%, respectively, according to data from Eurostat, the official statistics agency of the EU
Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
This was stated by the Governor of the Bulgarian National Bank at the international conference "Bulgaria in the Eurozone, When?" in Sofia
Former Finance Minister Simeon Dyankov has suggested that Bulgaria's potential entry into the Eurozone may not materialize before 2026
In the initial quarter of 2024, Bulgaria's economy expanded by 0.4%, as per an expedited evaluation by the National Statistical Institute (NSI), a slight deceleration from the 0.5% growth witnessed in the final quarter of the preceding year
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