The world is now facing the biggest energy crisis of the last 40 years, making it hard to make any meaningful progress on climate legislation in the European Union (EU).
On June 7, 2022, the European Parliament and EU Member States reached an agreement on the Directive on adequate minimum wages. Despite the arrival of this Directive, differences in minimum wages between EU Member States will continue to exist for as long as there is no convergence in productivity and employment rates.
Europe | Monetary policy normalization pushes up risk premia
The European Central Bank (ECB) has taken a further step in its process of normalizing monetary policy by announcing at its latest meeting that it will end its asset purchase program in July, and that it is prepared to pick up the pace of its rate hikes to contain inflation, in line with other central banks.
At last week's ECB meeting Christine Lagarde announced that the central bank has started out on a "journey" toward the normalization of monetary policy through a series of measures that it will take gradually over the next few months.
The ECB took a decisive step in its monetary policy normalization journey today as it pre-announced a series of interest rate hikes, starting next month. The unanimous decision was accompanied by a notable upward revision to Euro Area’s inflation projections and a downgrade on the growth outlook