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Europe Today

Short conflict in the Middle East or recession in Europe, IMF warns

The IMF’s outlook for Europe remains closely tied to geopolitical developments. A prolonged crisis risks tipping Europe into recession.

Economy

ECB holds rates at 2% as inflation rises and eurozone growth slows

The European Central Bank has held interest rates at 2% for a third straight meeting, even as inflation rises and growth slows across the eurozone.

Iran

Trump tightens naval blockade as Iranian rial collapses to record low

The latest drop follows a currency shock several months ago, when the rial fell from around 1.4 million to 1.6 million per US dollar in under a week, as the war moves turns into an economic clash to exhaust the Iranian regime' options.

Economy

Inflation hits 3% in euro area as Iran war spreads oil price shock

Soaring oil prices linked to the Iran war pushed inflation higher in the euro area in April, while growth continued to underperform — a worrying combination for both consumers and policymakers at the European Central Bank.

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Economy

French growth stalls as Iran war energy shock hits economy

France's first-quarter data shows slowed growth, rising prices and collapsing exports, laying bare how quickly the Iran war's energy shock is feeding through to Europe's second-largest economy.

Economy

Energy prices drive up inflation in Germany, Spain before ECB decision

Inflation rose in both Germany and Spain in April, driven mainly by higher energy costs linked to global geopolitical tensions, keeping eurozone price growth above the European Central Bank’s 2% target.

Travel News

French travellers are opting for staycations amid geopolitical crisis

Against a backdrop of international tensions, inflation and rising transport costs, the French are planning to travel less this summer and cut back on their spending, according to an Ifop survey for Alliance France Tourisme.

Economy

How AI is forcing central banks to rethink inflation and rates

Central banks are racing to understand how AI is reshaping inflation — and they do not all agree on the answer.

Europe News

Malta's Prime Minister Robert Abela calls early snap election for May

The Maltese leader mainly cited rising energy costs due to the Middle East conflict, as concerns and fears of a spike in inflation grow in a country reliant on imports as reasons to seek a new mandate.

Economy

Europe’s wage growth since 2020: Are Europeans better off?

Taking into account nominal growth and inflation, real hourly wages declined by 3% in the EU over the past five years. Wage growth was stronger in non-euro area countries and in those with lower wage levels.

Economy

ECB rate dilemma: Eurozone growth stalls as Iran war fuels inflation

The European Central Bank faces heightened uncertainty ahead of next week’s rate decision, with President Christine Lagarde warning the "stop-start nature" of the Iran war is making the economic outlook harder to assess.

Economy

Iran war effects on Europe: Is a recession already unfolding?

The eurozone’s private sector slipped back into contraction in April, marking its weakest performance in nearly a year and a half since November 2024, as the war in Iran hit services and fuelled inflation.

Economy

UK inflation hits 3.3% as Iran war drives energy costs higher

British consumer prices rose at a faster pace in March, reaching 3.3% as the ongoing Iran war sent fuel prices soaring. The data has forced markets to reassess expectations for the Bank of England, with a previously anticipated interest rate cut next week now looking very unlikely.

Economy

Rent surges in Europe: Where did prices rise most in 2025?

Rent increases reached double digits in several European countries in 2025 with Turkey a clear outlier at 78%. Experts point to demand rising faster than supply across Europe.

Business

Spanish inflation rises to 3.4% in March due to higher fuel prices

The CPI climbed by more than one point compared to last February, pushed up by the increase in energy prices. The government is confident that the anti-crisis plan will ultimately moderate prices.

Economy

US inflation surges to 3.3% as Iran war fuels energy price shock

US consumer prices rose sharply in March, with headline inflation climbing to 3.3% year-on-year as energy costs spiked in the wake of the Iran war, official data showed on Friday.

Venezuela

Venezuela police use tear gas against protesters demanding pay rises

The monthly minimum wage in Venezuela is 130 bolivars (€0.23), unchanged since 2022, and roughly 330 times lower than the UN poverty line of $3 (€2.56) a day.

Business

European earnings preview: Who wins and who loses from the Iran war?

Eurozone growth has been cut, inflation is surging and the Middle East conflict has shattered the consensus growth story for European corporates. From Paris to Munich, earnings season begins next week.

Economy

Japan passes biggest ever budget at €664bn amid spending push

The upper house of the Japanese parliament has enacted a state budget of ¥122.3 trillion (€664bn), the largest allocation in the country's history. The move reflects PM Takaichi's goal of an expansionary fiscal policy.

Economy

Will the US Fed raise interest rates to fight Iran war inflation?

The US Federal Reserve is weighing whether to raise interest rates for the first time in years as the Iran war drives up fuel costs and pushes inflation further above target.