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Friday 3 February 2023 Dublin: 11°C

# Eurozone

This week
29th January 2023 - 3rd February 2023
# Eurozone
Eventful night for Mbappe, Barca and Bayern win as Cancelo makes immediate impact
The France and PSG star missed a penalty – twice – and came off injured as PSG won at Montpellier.
Last year
2022
# eurogroup president
Paschal Donohoe set for second term as Eurogroup president after running unopposed
After much speculation on the impact of the upcoming cabinet reshuffle on the government’s efforts to remain at the helm of the Eurogroup, Donohoe is set to continue on as president.
# Eurozone
Paschal Donohoe asks Eurogroup members to re-elect him as president
He is bidding for another term despite plans for the Cabinet reshuffle to take him out of the Finance portfolio.
# Inflation
Inflation has reached 8.6% since start of 2022, but lower than Eurozone average
The Eurozone average reached to 10% followed a 9.1% rise in August.
# tracker mortgages
Tracker mortgages set for increase as ECB hikes interest rates by record 0.75 percentage points
The ECB is already playing catch-up with US and British central banks that started raising rates faster in response to inflation.
# Cost of Living
Soaring energy prices lead to record Eurozone inflation as Gazprom suspends gas to Germany
The European Central Bank is expected to raise interest rates at its next meeting on 8 September.
# Run for their money
Euro hits new 20-year low, fighting to stay above US dollar
Weak economic data have raised further fears of recession.
# Troika
EU financial oversight of Greece ends 12 years after bailouts
Athens will now have greater control over its domestic economic policy.
# Inflation
Tracker mortgage rates to rise after ECB hike interest rates by 0.5%
The bank is trying to respond to soaring inflation but those on tracker and variable rates will likely face an increase.
# Eurozone
Euro strikes dollar parity as fears mount of a eurozone recession
The European single currency briefly hit exactly one dollar, its lowest level since December 2002.
# Inflation
No sign of new living cost measures before Budget as Taoiseach says recession is a 'not a given'
Finance minister Paschal Donohoe added that cost of living is causing a ‘very rapid fall in living standards’ for many.
# Eurozone
Croatia ready to adopt euro currency in 2023, says EU
Croatia’s switch from the kuna to the euro will come less than a decade after the former Yugoslav republic joined the European Union.
# Prices
Irish inflation hits 8.2%, above Eurozone average, as Sinn Féin proposes cash payment for workers
Inflation in the eurozone is at its highest level since recordkeeping for the euro began in 1997.
# Cost of Living
Eurozone inflation hits record high of 7.5% as growth slows amid Ukraine war
The figure is the highest recorded by the European statistics office since the publication of this indicator began in January 1997.
All time
# Eurozone
Economic recovery from pandemic expected to be slower in Europe than US or China
The International Monetary Fund predicts slower growth for Europe after second and third waves of Covid-19 cases.
# Ulster Bank
Ulster says go: Bank's decision to exit was in the wind — but why is it happening now?
Ulster Bank’s long goodbye creates major headaches for policymakers.
# Euro Vision
Uncapped duo stay in Ireland squad for Germany showdown as Roche one of seven to miss out
Vera Pauw has finalised a 23-strong squad for the top-of-the-group clash in Essen.
# frugal four
EU leaders remain divided on plans for a €750 billion recovery fund ahead of a vital summit meeting
Dutch prime minister Mark Rutte leads a bloc of countries opposed to the deal.
# Covid-19
The European Commission has slashed Irish and eurozone growth forecasts
But the Commission expects the Irish economy to grow by 6.25% next year.
Voices
'Europe must emerge stronger from this crisis': A message from EU Presidents von der Leyen, Sassoli and Michel
On Europe Day, marking the Schuman declaration in 1950, the three presidents of the EU, Commission and Parliament share thoughts on Covid-19 and the future for Europe.
# Eurozone
EU leaders fail to agree a Covid-19 stimulus package
“We cannot make the same mistakes of the 2008 financial crisis,” Spain’s Prime Minister Pedro Sanchez warned.
# last day
Candidates are out making their last pitches for your vote before the broadcast ban kicks in
Meanwhile more than 2,000 people on islands off the west coast are entitled to vote today.
# Eurozone
Uefa set to launch third European club competition
It’s about time the Intertoto Cup was brought back.
# join the club
Eight years and €289 billion later, Greece exits its final bailout today
The country is not out the woods though and its people are still feeling austerity.
# Crunch time
'We need to see if we have learned those lessons, so it's a huge week for us'
The painful memories of two semi-final defeats last year are driving Leinster on towards Scarlets this weekend.
# euro trips
Connacht handed tough draw in next season's Challenge Cup
The western province will be in a pool with Brive, Worcester Warriors and Oyonnax.
# Two of a Kind
If Marine Le Pen wins election, her prime minister will be a far-right eurosceptic
Could a Frexit be on the cards?
# Macron Economics
Euro surges despite Le Pen making second round of French elections
The French vote was being closely watched as a bellwether for populist sentiment.
# ghost of bailouts past
Greek Finance Minister takes sly dig at creditors by sending Scrooge-themed Christmas cards
Euclid Tsakalotos said “our wishes go beyond all the Ebenezers of this world.”
# Eurozone
Tough Champions League opener for Wexford Youths but reasons for optimism
The dominant force in Irish women’s football have two more group matches this week.
# Make Money Money
'Good for Ireland': Germany's top court rules that the ECB can 'print money'
The challenge to the bond-buying plan could have ended the single currency.
# Black Market
You better spend your €500 notes quickly, the big purple one could soon be scrapped
The note is seemingly being “used more for hiding things than buying them”.
# cash in the attic
We've found 73 MILLION old £20 notes behind the couch since the euro arrived
€4.1 billion in punts, overall. That’s a hell of a lot of Communion money.
# Deja Vu
These are 5 things that could wreck Ireland's economy all over again
The OECD has a lot to say about where the country is headed in its latest survey.
# What Next?
Greek rebels form new party ahead of snap election
It’s called Popular Unity.
# vote passed
Tsipras 'doesn't regret' leading Greece into third multi-billion euro bailout
The country’s parliament has approved the deal after all-night talks.
# Bailout
Greece has reached a deal with its lenders. Here's what it means
After night long talks with bailout negotiators at a central Athens hotel, the new multibillion-euro bailout deal has been closed.
# Eurozone
Varoufakis could face treason charges for planning alternative currency
His immunity to prosecution as a member of parliament must be revoked first.
# Open for Business
Greek banks reopen as citizens face massive price hikes
Greeks will be able to withdraw up to €420 at once per week.
# olympic feat
There are 3 big obstacles Greece needs to clear before getting more bailout cash
Politics could still stymie the country’s third rescue package.