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French President Nicolas Sarkozy called for the Euro summit to replace the Euro Group as a "clearly identified economic government" for the eurozone, stating it was not possible for the eurozone to continue without it. The eurozone economic government would discuss issues with the European Central Bank, which would remain independent. [2]
The EU has a long-term budget, named Multiannual Financial Framework (MFF), of €1,082.5 billion for the period 2014–2020, representing 1.02% of the EU-28's GNI. [51]The overall budget for the period 2021-2027 is of €1.8 trillion combining the MFF of €1,074.3 billion with an extraordinary recovery fund of €750 billion, known as Next Generation EU, to support member states hit by the ...
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
This is a sortable list of all European countries by their gross domestic product in billions of US dollars at market or official government exchange rates (nominal GDP), according to the International Monetary Fund. The economic and political map of Europe also includes: Turkey, Georgia, Armenia, Azerbaijan, Cyprus and Kosovo.
The key macroeconomic data in the eurozone countries are: General government net debt / Percent of GDP; General government net lending/borrowing / Percent of GDP;
Monaco has the highest GDP (nominal) per capita of any European state. Russia is the largest transcontinental European economy and will remain so until at least 2030. San Marino is Europe's smallest economy, and is also the third weakest growing economy in Europe. United Kingdom is the largest non-eurozone economy in Europe.
The euro area, [8] commonly called the eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro as their primary currency and sole legal tender, and have thus fully implemented EMU policies.
For example, a backward-check conducted in 2024 will always check whether outturn data from the completed 2023 fiscal year (t) featured a debt-to-GDP ratio (b t) at a level respecting the "2023 debt reduction benchmark" (bb t) calculated on basis of outturn data for the debt-to-GDP ratio from 2020+2021+2022, while the forward-looking check ...