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The euro is set for its first major visual transformation, as the European Central Bank (ECB) moves ahead with plans for a new generation of banknotes designed to look more familiar, strengthen security and create a closer connection with European citizens. The proposals, unveiled by the ECB in July, represent the first substantial visual break from the banknotes that Europeans have carried since the introduction of the single currency. The new designs replace the current abs

Europe’s prolonged spell of extreme summer heat is expected to inflict an economic cost of around €180 billion in 2026, equivalent to roughly 1% of the European Union’s GDP, according to research published by Triodos Bank. The estimated loss is almost as large as the 1.1% growth that the EU had been expected to achieve this year, raising the prospect that the bloc could end the year close to stagnation. The analysis attributes the losses to a combination of extreme temperatur

Eurozone business activity accelerated to its strongest level in eight months during July, supported by a recovery in the services sector alongside continued improvement in manufacturing. However, businesses remained cautious as uncertainty surrounding the ongoing conflict in the Middle East continued to weigh on the economic outlook, according to the latest survey. The S&P Global Eurozone Composite Purchasing Managers' Index (PMI), which measures combined activity across the

Banks across the euro area adopted more cautious lending practices during 2025 as heightened trade tensions, particularly those affecting exports to the United States, increased risks for businesses, according to the European Central Bank (ECB). The findings were published in an ECB blog post by economists Anastasia Allayioti, Alessandro Ferrari, Petra Köhler-Ulbrich and Matías Lamas Rodríguez, together with research analyst Wouter Wakker. Their analysis combined corporate lo

European governments are confronting an unprecedented fiscal challenge as mounting expenditure associated with ageing populations, the transition to cleaner energy and increased defence commitments threatens to place significant pressure on public finances, according to a newly released paper by the International Monetary Fund (IMF). The IMF's European Department warned that average public spending across the region is projected to rise by nearly 5 per cent of gross domestic

Europe’s illegal online gambling market is no longer a side issue for regulators. New figures presented at the European Parliament suggest that unlicensed operators targeting EU consumers generated €91.6 billion in activity in 2025, costing Member States an estimated €22.9 billion in lost tax revenue. The figures, revealed during a European Casino Association roundtable on illegal online gambling, show a market that is growing faster than enforcement systems can contain it. T

The fight over Russia’s frozen central bank assets has moved deeper into the courts, turning one of Europe’s most important sanctions tools into a complex legal battlefield. Euroclear, the Belgian-based financial market infrastructure group holding a major share of immobilised Russian sovereign assets, has sued Russia’s central bank in Belgium. The aim is to block enforcement of a Moscow arbitration court ruling ordering Euroclear to pay around €220 billion in damages linked

Malta may be sitting at the top of Europe’s growth table, but Cyprus is building the quieter, more balanced story. A new Euronews analysis, based on IMF projections, places Malta as Europe’s leading medium-term growth performer, with the island economy expected to grow by nearly 4% annually over the next five years. The headline is impressive. It reinforces Malta’s image as one of the eurozone’s most dynamic small economies, supported by tourism, online gaming, financial serv

Germany has opened a major confrontation over the European Union’s next long-term budget by demanding a €400 billion reduction to the Commission’s proposed 2028-2034 spending plan. Reuters reported that an internal German government document described the proposed budget of almost €2 trillion as unaffordable and warned that, as it stands, agreement would be impossible. Because the EU’s Multiannual Financial Framework requires unanimity among all 27 member states, Berlin’s pos

A major debate is intensifying within the European Union over the future direction of its emissions trading system (ETS), the bloc’s central tool for pricing carbon since its launch in 2005. The dispute is unfolding as policymakers weigh how to maintain industrial competitiveness while still meeting long-term climate targets, including the EU’s agreed 2040 emissions goal. At the center of the discussion is Swedish steel producer SSAB, which is investing around €6 billion

Austria is moving closer to one of the most important online gambling reforms in Europe, but the transition may be just as important as the final framework. Industry reporting in late June said the country’s online market is expected to open in 2027, with a planned cooling-off period before new licences become available. That structure could create a temporary gap in which existing operators are forced out before the regulated market is ready to absorb players. The reform is

Europe’s fight against organised crime is moving into a more uncomfortable phase. The latest analysis presented by Europol and the European Commission shows that the most threatening criminal networks in the EU are no longer defined only by smuggling routes, hidden cash or violent street-level enforcement. They are increasingly using the same legal infrastructure that ordinary businesses rely on: companies, logistics providers, professional intermediaries, online platforms, l

A new proposal to sharply increase taxes on high-street slot machines has reopened the UK debate over gambling harm, public revenue and the future of land-based betting venues. The proposal, advanced by the Social Market Foundation, would raise Machine Games Duty on higher-risk Category B machines, including many electronic gaming machines found in adult gaming centres, casinos, bingo halls and betting shops. The think tank argues that the measure could raise between £275 mil

Portugal has added hundreds of ultra-wealthy residents over the past five years, strengthening its position as one of Europe’s preferred destinations for globally mobile wealth. According to recent wealth data cited by Euronews, the number of ultra-high-net-worth individuals living in Portugal has increased from 1,462 in 2021 to an estimated 2,187 in 2026. That represents an increase of 725 people with net wealth of at least around €25 million, placing Portugal among the Euro

The UK Gambling Commission has imposed a £122,835 regulatory settlement on gambling software provider Stakelogic BV after finding that several of its online slot games operated faster than permitted under the regulator’s responsible product design rules. The case highlights a growing area of gambling compliance risk: the mechanics of the product itself. For years, enforcement attention in the UK gambling sector has focused heavily on anti-money laundering, affordability check

French financial intelligence unit TRACFIN has brought renewed attention to one of the most persistent money laundering risks in Europe: corporate cash-out networks that allow businesses to convert bank transfers into physical cash while disguising the movement as legitimate commercial activity. The case, involving an alleged €34 million laundering network, shows how ordinary-looking companies can be used to move funds through cross-border structures before returning value to

The Dutch gambling regulator has imposed a €3.082 million fine on Chestoption Sociedad de Responsabilidad Limitada for offering online gambling to players in the Netherlands without the required licence. The decision, published by the Kansspelautoriteit, adds to a wider enforcement campaign against offshore gambling operators that continue to target Dutch consumers despite not being licensed under the country’s regulated online gambling framework. The case is particularly sig

The European Union has extended its economic sanctions against Russia for another year, confirming that restrictions linked to the war in Ukraine are no longer being treated as short-term emergency measures but as a long-term part of Europe’s regulatory and commercial environment. On 25 June 2026, the Council of the European Union renewed the restrictive measures imposed in response to Russia’s continuing actions destabilising Ukraine. The measures will now remain in force un

Europe’s relationship with China is entering a more difficult phase. What was once mainly described as a trade imbalance is now becoming a strategic supply-chain problem, with rare earths, critical minerals, industrial dependence and market access all moving to the centre of EU policy. The latest flashpoint came as EU Trade Commissioner Maroš Šefčovič prepared to host Chinese Commerce Minister Wang Wentao in Brussels on 29 June 2026. The meeting came at a sensitive moment. Eu

The Netherlands’ gambling tax increase has delivered far less revenue than expected, raising serious questions about whether higher tax rates are damaging the regulated market instead of strengthening public finances. The Dutch gambling tax was increased in two stages. The rate rose from 30.5% to 34.2% on 1 January 2025, followed by a further increase to 37.8% from 1 January 2026. The policy was introduced as a revenue-raising measure, with the government expecting the gamb