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Keynote speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Government Borrowers Forum 2025.

Since joining the European Union in 2004, Hungary has received over €100 billion in EU funding—but the benefits of membership go far beyond financial support. In a recent interview, our EU expert discussed how integration has strengthened Hungary’s economy, education, and society, touched on the current suspension of some funds, and explained why the EU […]

  Today, the EU puts forward a new strategy for a stable and secure Black Sea region. It aims to boost connections and growth, by linking Europe with the South Caucasus, Central Asia, and beyond. The EU will forge closer cooperation with Ukraine, the Republic of Moldova, Georgia, Türkiye, Armenia and Azerbaijan and take forward regional cooperation on connectivity. The strategy seeks to bring tangible benefits to […]

The new US President’s first 100 days in office have been a period of economic and financial chaos. What’s the best response to all of this chaos and disruption?

ECHA’s redesigned Classification and Labelling (C&L) Inventory is now available in the Agency’s new chemicals database, ECHA CHEM.

The EU economy began 2025 on a somewhat stronger footing than anticipated. It is projected to keep growing at a modest rate this year, with growth expected to pick up in 2026, despite heightened global policy uncertainty and trade tensions. 

In an interview with the ECB’s Supervision Newsletter, Kilvar Kessler, Chair of Estonia’s Finantsinspektsioon and ECB Supervisory Board member, reflects on Estonia’s digital banking success, cyber threats, and the future of European supervision.

The European Commission has unveiled a major simplification package for the Common Agricultural Policy (CAP), aiming to ease administrative burdens, strengthen crisis support, and improve farmers’ competitiveness. These changes could save farmers up to €1.58 billion and national administrations €210 million annually.

At the Hoover Institution, Isabel Schnabel stressed that the traditional Phillips curve—linking inflation and economic slack—has behaved unpredictably over the past two decades. After the financial crisis, inflation was unexpectedly stable (“missing inflation”), while post-pandemic it surged, pointing to a temporarily steeper curve. Now, signs suggest it may be flattening again.

The number of irregular border crossings into the European Union fell by 27% in the first four months of 2025 to nearly 47 000, according to preliminary data collected by Frontex*.