Latest Valdis Dombrovskis News

Russia's war to keep hitting EU economy, push up inflation

Jul. 14, 2022 07:10 AM EDT

BRUSSELS (AP) — Russia's war in Ukraine is expected to wreak havoc with the European Union's economic recovery for the foreseeable future with lower annual growth and record-high inflation, the bloc's economic forecast showed Thursday. The summer figures for the 19 nations using...

Croatia clears final hurdle to adopting the euro next year

Jul. 12, 2022 10:33 AM EDT

BRUSSELS (AP) — The European Union on Tuesday removed the final obstacles to Croatia adopting the euro, enabling the first expansion of the currency bloc in almost a decade as the exchange rate fell to its weakest level against the dollar in 20 years. EU finance ministers approved...

Ukraine lays out $750B 'recovery plan' for postwar future

Jul. 04, 2022 11:28 AM EDT

LUGANO, Switzerland (AP) — Ukrainian President Volodymyr Zelenskyy said Monday the reconstruction of his war-battered country is the “common task of the entire democratic world," as his prime minister laid out a $750 billion recovery plan once the guns of Russia's invaders fall silent one day....

Algeria denies suspending friendship treaty with Spain

Jun. 10, 2022 16:36 PM EDT

MADRID (AP) — Algeria on Friday appeared to have backed down in its dispute with Spain after its mission at the European Union issued a statement saying the northwest African country had never suspended the friendship treaty it holds with Spain. In an odd development, Algeria said,...

Davos gathering overshadowed by global economic worries

May. 25, 2022 14:07 PM EDT

DAVOS, Switzerland (AP) — Soaring inflation. Russia’s war in Ukraine. Squeezed supply chains. The threat of food insecurity around the world. The lingering COVID-19 pandemic. The risks to the global economy are many, leading to an increasingly gloomy view of the months ahead for...

Davos updates | VW: Supply chain woes ease; orders backed up

May. 25, 2022 14:01 PM EDT

DAVOS, Switzerland (AP) — Executives with German automaker Volkswagen say at the World Economic Forum meeting in Davos that supply chain problems exacerbated by the Russia-Ukraine war are easing but they’re dealing with a huge backlog of orders. Audi board member Hildegard...