Euro April no 5

Below is a summarised ‘Bulletin’ from the euractiv website, for more detailed information on these and other items please go to www.euractiv.com

IMF insists that Greece needs a debt restructuring

The International Monetary Fund (IMF) will participate in the Greek bailout programme on the condition that the country’s debt is sustainable and, thus, a restructuring will be needed, IMF chief Christine Lagarde warned on Tuesday (18 April).

Despite mounting pressure from all sides, the IMF refuses, for now, to participate in the financing of the country’s €86 billion bailout program, if Greece does not commit to further reforms and the EU does not come up with specific details for a debt relief.

Greens denounce ‘Hungary-style’ attack against EU-funded NGOs
Parliament report opens ‘Pandora’s Box’ of EU-funded NGOs. A draft European Parliament report calling on the European Commission to reject funding for NGOs that oppose the “strategic commercial and security objectives” of the EU is creating upheaval among civil society groups.

EU copyright directive means trouble for our startups
Startups in Europe can only be successful if they have solid rules in the online space. But in an attempt to limit the power of tech giants, the European Union risks hampering the next generation of European startups too, writes Lenard Koschwitz.

Lenard Koschwitz is director of European affairs at Allied for Startups.

Commission insists poor-performing regions need structural reforms

The European Commission yesterday (11 April) suggested that regions with a lower level of growth could benefit from greater institutional capacity and structural reforms that could facilitate investment. EURACTIV Spain reports. That appraisal followed a report published yesterday by the EU executive on the EU’s regions, which concluded that they are “lagging behind” in terms of growth and income. It also suggested strategies using EU funds.

The so-called “low growth regions” are those that have a GDP per capita of 90% or lower of the EU average. “Low income regions” are those where wages are less that half the average, also evaluated by GDP per capita. The Commission ranks a number of regions in Spain, Greece, Italy and Portugal among those with low growth.