European Commission: Euro Area Economic Outlook and Competitiveness Agenda

European Commissioner Dombrovskis, speaking at the Eurogroup press conference in Dublin, said energy-related disruptions and this summer's extreme weather events are expected to weigh on Europe's economy. The euro area economy performed somewhat better than expected in the first half of the year, but the Commission's latest assessment expects growth to slow next year. He highlighted three priority areas: safeguarding fiscal sustainability, strengthening the euro's international role and ensuring digital euro legislative negotiations cross the finish line by year-end, and enhancing competitiveness through full implementation of the EU competitiveness agenda.