Dutch government grants €2 billion in subsidies to huge carbon storage project

The Covid-19 pandemic has created huge challenges for policymakers in the whole world. These challenges have to do with both the short run and the long run. In addition, in the euro area, these challenges have dimensions that are peculiar to the fact that the euro area is a monetary union with one monetary authority and nineteen separate budgetary authorities. In this policy brief, the author provides some answer to two questions: • Which policy mix (national/supranational) supports smooth recovery, sustainability of public finances and resilience of the euro area? • Which EMU governance reforms should be prioritised so as to improve the functioning of the euro area?

Source : © European Union, 2021 – EP

Germany pledges to become carbon-neutral by 2045. Germany has announced plans to become carbon neutral by 2045, in a landmark shift in climate policy driven by a recent constitutional court ruling demanding better defined emissions targets after 2030. German Finance…

Draft Amending Budget No 3/2021 (DAB 3/2021) to the European Union’s 2021 general budget aims to enter as revenue in the 2021 budget the surplus resulting from the implementation of the 2020 budget. The 2020 surplus totals almost €1.77 billion (as compared to €3.2 billion in 2019, €1.8 billion in 2018 and €0.56 billion in 2017). It consists mostly of higher than expected revenues, plus under-spending on the expenditure side. Inclusion of the surplus will reduce the gross national income (GNI) contributions of the EU Member States to the 2021 budget accordingly. The European Parliament is expected to vote on the Council position on DAB 3/2021 during its July plenary session.

Source : © European Union, 2021 – EP

Most people’s image of world trade will be a huge container ship similar to the one that was recently stuck in the Suez canal, full of cars, clothes and other goods. However, the modern global economy increasingly runs on huge…