The financially well-off members such as Germany and the Netherlands are hesitating to help Italy, Spain and France, where thousands have been killed by Covid-19.
In an interview with Italian daily Il Sole 24 Ore on Saturday, Conte said a common debt instrument was needed to spearhead a European recovery and reinvestment plan to support the economy of the whole area.
After a career breaking glass ceilings to join a tiny global elite, Christine Lagarde will bring experience of cool-headed crisis fighting to her job as first female head of the European Central Bank.
It remains to be seen if the measures are enough to spur spending.
International Monetary Fund Managing Director Christine Lagarde's resignation comes two weeks after her nomination on July 2 for the ECB top job.
In its quarterly economic forecasts, the European Union's executive arm says prices will grow less than previously predicted, pushing the inflation rate further off the European Central Bank's target of close to but less than two percent.
The European Union promised its member countries wealth and prosperity, but a recently released report calls this premise into question.
In a two-day summit, the EU leaders discussed possible solutions to long-standing issues affecting the union. Here are some key takeaways.
European Commission takes first step towards disciplining Italy over its draft 2019 budget but defiant Rome says it had no intention of changing its plans and sanctions would be "disrespectful" towards Italians.
Italian yields surge on the European Commission’s rejection of Rome’s budget plan, as Italy faces disciplinary action if it does not comply.
The EU says Italy's spending is too high relative to tax receipts, and its budget deficit must come down.
Greece returns to growth for the first time since 2010 as its once vast public deficit is turned into a solid budget surplus.
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