With the COVID-19 pandemic, war returning to Europe and the accompanying energy crisis, a worsening economic outlook, all on top of a climate crisis, today’s young Europeans are growing up in a volatile and difficult world. Concerns about economic prosperity, increasing competition for jobs, rising inflation and property prices make it difficult for young people to get ahead in life, to afford housing, to attain economic stability and to achieve a sense of satisfaction in society.

EPRS policy podcast - Future shocks 2023: Decline in mental health and societal well-being in young Europeans

Inflation is defined as a process of continuously rising prices and falling purchasing power. In other words, a general and broad-based increase in the price of goods and services over an extended period. The main objective of central banks is to keep prices stable, to preserve the integrity and purchasing power of people's money. The most common inflation indicator measures the average change in the price of a basket of consumer goods and services over time. The closest approximation of what people intuitively understand by the term inflation is the change in their cost of living. Inflation is expected to remain significantly above the euro area inflation target of 2 % for some time, due to continued geopolitical uncertainty and persistent supply bottlenecks.

EPRS policy podcast - Inflation explained: What lies behind and what is ahead?

MEPs and UK MPs met&nbsp;in Brussels on 3 and 4 July for the third EU-United Kingdom Parliamentary Partnership Assembly to discuss, among other issues, the state of play within the Partnership Council, EU-UK common efforts to support Ukraine, and cooperation on trade and industrial policy - including responses to the US Inflation Reduction Act.&nbsp;

EU-UK relations are changed&nbsp;following Brexit and the deal reached at the end of 2020. The United Kingdom (UK) left the European Union (EU) on 31 January 2020, after 47 years of EU membership. The UK has lost all the rights and benefits it had as an EU Member State and is no longer a part of the EU’s Single Market and Customs Union.

The EU-UK withdrawal agreement in force since 1 February 2020, ensured that the UK’s withdrawal from the EU happened in an orderly manner, and protects the rights of EU citizens and UK nationals, the EU’s financial interests, and peace and stability on the island of Ireland.

The EU-UK Trade and Cooperation Agreement between the EU and the UK sets out preferential arrangements in areas such as trade in goods and in services, digital trade, intellectual property, public procurement, aviation and road transport, energy, fisheries, social security coordination, law enforcement and judicial cooperation in criminal matters, thematic cooperation and participation in Union programmes.&nbsp; In April 2021 the European Parliament voted with a large majority in favour of granting also its consent to the agreement.

EU - UK relations

On 24 February 2022,&nbsp;Russia&nbsp;began a&nbsp;military invasion&nbsp;of Ukraine, in a major escalation of the conflict that had begun in 2014. Shortly before, on 21 February, Russian President Vladimir Putin recognized the two breakaway regions in eastern Ukraine as independent.&nbsp;

The Russian aggression has brought destruction to Ukraine and its people, but also a wide range of economic and social consequences across Europe and the European Union. MEPs regularly debate on how to respond to the current cost of living crisis,&nbsp;bolstered by&nbsp;inflation and&nbsp;hikes in energy prices.

In the annual&nbsp;&nbsp;2022 report on the implementation of the Common Security and Defence Policy, MEPs called the EU and its member states need to increase their military, political and humanitarian assistance to Ukraine and strengthen their defence in countering Russian threats to European security.

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Consequences of the war in Ukraine on the EU

The plenary of the EP&nbsp;assessed with Presidents Michel and von der Leyen the outcome of the 15 December European Council. The situation in Ukraine and the EU aid to the country, the&nbsp;inflation,&nbsp;energy crisis, as well as relations with the US and the southern neighbourhood are among the main topics discussed.

EU heads of state and&nbsp;government met in Brussels to discuss the most pressing policy priorities for the European Union on 15 December 2022.&nbsp;The European Council focused&nbsp;on the situation in Ukraine, energy policy and the economy, and security and defence.

In a debate with Council and Commission ahead of the&nbsp;EU summit, MEPs demanded lower energy prices and allowing Bulgaria and Romania to join the Schengen area.

European Council, 15 December 2022

MEPs debate with European Central Bank President Christine Lagarde inflation, efforts to curb it, and possible interest rate cuts. During the annual plenary debate, MEPs concentrate on what happens next once inflation settles at the ECB’s 2% target and pay particular attention to the continuing significant divergences in inflation rates between member states. This is the last debate in the European Parliament for Ms Lagarde before the 6-9 June  European elections.

Plenary debate - European Central Bank: annual report 2023

EP Plenary session - Tackling the inflation in food prices and its social consequences and root causes - Commission statement

Resumption of the session

Opening of the sitting

Statements by the President

Approval of the minutes of the previous sitting

Composition of Parliament

Follow-up to a request for the defence of immunity

Composition of political groups

Composition of committees and delegations

Negotiations ahead of Parliament’s first reading (Rule 71)

Corrigendum (Rule 241)

Signing of acts adopted in accordance with the ordinary legislative procedure (Rule 79)

Order of business

Resumption of the sitting

European Central Bank – annual report 2023 (debate)

Transparency and targeting of political advertising (debate)

Need to overcome the Council deadlock on the platform workers directive (debate)

Tackling the inflation in food prices and its social consequences and root causes (debate)

Detergents and surfactants (debate)

Amending Decision (EU) 2017/1324: continuation of the Union’s participation in PRIMA under Horizon Europe (short presentation)

Protection of the environment through criminal law (short presentation)

20240226-0900-PLENARY

Agenda of the next sitting

Approval of the minutes of the sitting

Closure of the sitting

Plenary session

Announcement by the President: see Minutes

Presentation of the programme of activities of the Swedish Presidency (debate)

Report: Lídia Pereira (A9-0293/2022) - Rules to prevent the misuse of shell entities for tax purposes

Voting time

Consumer protection in online video games: a European Single Market approach (debate)

Surge of respiratory infections and the shortage of medication in Europe (debate)

Question Time (Commission) - Food price inflation in Europe

New developments in allegations of corruption and foreign interference, including those related to Morocco, and the need to increase transparency, integrity and accountability in the European institutions (debate)

Implementation of the common foreign and security policy - annual report 2022 - Implementation of the common security and defence policy - annual report 2022 (debate)

Human rights and democracy in the world and the European Union’s policy on the matter - annual report 2022 (debate)

The EU’s response to the appalling attack against civilians in Dnipro : strengthening sanctions against the Putin regime and military support to Ukraine (debate)

The establishment of a tribunal on the crime of aggression against Ukraine (debate)

EU response to the protests and executions in Iran (debate)

“The Road to 2023” - Towards a stronger EU-Latin America partnership (debate)

Explanations of vote

Opening of the sitting


Negotiations ahead of Parliament's first reading (Rule 71) (action taken)

Preparation of the European Council meeting of 15 December 2022

EU response to the US Inflation Reduction Act (debate)

Award of the Sakharov Prize (formal sitting)

Tackle the cost of living crisis: increase pay, tax profits, stop speculation (topical debate)

Defending the European Union against the abuse of national vetoes

Defending democracy from foreign interference (debate)

The Commission’s reports on the situation of journalists and the implications of the rule of law (debate)

Upscaling the 2021-2027 Multiannual Financial Framework

Deliberations of the Committee on Petitions in 2021 (debate)

Chinese government crackdown on the peaceful protests across the People's Republic of China

Military Junta crackdown on peaceful demonstrations in Chad

The case of human rights defender Abdulhadi Al-Khawaja in Bahrain

ECON - State Aid: EU’s reaction to the US Inflation Reduction Act (IRA) -Exchange of views with Paolo GENTILONI, Commissioner for Economy

ECON - Exchange of views with Margrethe Vestager, Executive Vice-President and Commissioner for Competition on State Aid: EU’s reaction to the US Inflation Reduction Act (IRA)

FISC Subcommittee public hearing on ' The role of tax policy in controlling inflation and promoting sustainable growth in the context of economic recovery '

EP Plenary session - Question Time to Commission - Food price inflation in Europe

AGRI committee - Exchange of views with Janusz WOJCIECHOWSKI, European Commissioner for Agriculture, on inflation consequences on the CAP budget

EP Plenary session - EU response to the US Inflation Reduction Act

Greenpeace protest with an inflatable whale in Strasbourg in May 1990

MEPs debate with Christine LAGARDE, President of the ECB, inflation, efforts to curb it, and possible interest rate cuts. During the annual plenary debate, MEPs concentrate on what happens next once inflation settles at the ECB’s 2% target and pay particular attention to the continuing significant divergences in inflation rates between member states. This is the last debate in the European Parliament for Christine LAGARDE before the 6-9 June European elections. Closing statements by Christine LAGARDE, President of the European Central Bank (ECB) and by Johan VAN OVERTVELDT, Rapporteur, and by Mairead MCGUINNESS, European Commissioner for Financial Services, Financial Stability, and Capital Markets Union

European Central Bank – annual report 2023: Closing statements by Christine LAGARDE, President of the European Central Bank (ECB) and by Johan VAN OVERTVELDT, Rapporteur, and by Mairead MCGUINNESS, European Commissioner for Financial Services

MEPs debate with Christine LAGARDE, President of the ECB, inflation, efforts to curb it, and possible interest rate cuts. During the annual plenary debate, MEPs concentrate on what happens next once inflation settles at the ECB’s 2% target and pay particular attention to the continuing significant divergences in inflation rates between member states. This is the last debate in the European Parliament for Christine LAGARDE before the 6-9 June European elections. MEPs debate. This transcription is a result of an automatic process. Please check against delivery.

European Central Bank – annual report 2023: MEPs debate

MEPs debate with Christine LAGARDE, President of the ECB, inflation, efforts to curb it, and possible interest rate cuts. During the annual plenary debate, MEPs concentrate on what happens next once inflation settles at the ECB’s 2% target and pay particular attention to the continuing significant divergences in inflation rates between member states. This is the last debate in the European Parliament for Christine LAGARDE before the 6-9 June European elections. Opening statements by Christine LAGARDE, President of the European Central Bank (ECB), Johan VAN OVERTVELDT, Rapporteur, and by Mairead MCGUINNESS, European Commissioner for Financial Services, Financial Stability, and Capital Markets Union. This transcription is a result of an automatic process. Please check against delivery.

European Central Bank – annual report 2023: Opening statements by Christine LAGARDE, President of the European Central Bank (ECB), Johan VAN OVERTVELDT, Rapporteur, and by Mairead MCGUINNESS, European Commissioner for Financial Services

Moldova, one of Europe’s poorest countries, has suffered severe political and economic collateral damage due to Russia’s war against neighbouring Ukraine, with soaring inflation, food costs, and energy prices, street protests in the capital Chișinău, electricity blackouts and disinformation campaigns. MEPs debate on a resolution taking stock of Moldova’s path to the European Union. Closing statements by ing statements by Pascual NAVARRO RÍOS, Spanish Secretary of State for the European Union and Janez LENARČIČ, European Commissioner for Crisis Management

Taking stock of Moldova's path to the EU: closing statements by Pascual NAVARRO RÍOS, Spanish Secretary of State for the European Union and Janez LENARČIČ, European Commissioner for Crisis Management

Moldova, one of Europe’s poorest countries, has suffered severe political and economic collateral damage due to Russia’s war against neighbouring Ukraine, with soaring inflation, food costs, and energy prices, street protests in the capital Chișinău, electricity blackouts and disinformation campaigns. MEPs debate on a resolution taking stock of Moldova’s path to the European Union. Second part of the debate.

Taking stock of Moldova's path to the EU: MEPs debate (part 2)

Moldova, one of Europe’s poorest countries, has suffered severe political and economic collateral damage due to Russia’s war against neighbouring Ukraine, with soaring inflation, food costs, and energy prices, street protests in the capital Chișinău, electricity blackouts and disinformation campaigns. MEPs debate on a resolution taking stock of Moldova’s path to the European Union. First part of the debate.

Taking stock of Moldova's path to the EU: MEPs debate (part 1)

Moldova, one of Europe’s poorest countries, has suffered severe political and economic collateral damage due to Russia’s war against neighbouring Ukraine, with soaring inflation, food costs, and energy prices, street protests in the capital Chișinău, electricity blackouts and disinformation campaigns. MEPs debate on a resolution taking stock of Moldova’s path to the European Union. Opening statements by Pascual NAVARRO RÍOS, Spanish Secretary of State for the European Union and Janez LENARČIČ, European Commissioner for Crisis Management.

Taking stock of Moldova's path to the EU: opening statements by Pascual NAVARRO RÍOS, Spanish Secretary of State for the European Union and Janez LENARČIČ, European Commissioner for Crisis Management

This Monetary Dialogue takes place in a still challenging environment, marked by uncertainty and inflationary pressures. While headline inflation has declined (to 7% in April) mostly due to the ongoing fall of energy prices, core inflation remains high and persistent, mostly driven by the rise in food and services prices. Since the last Monetary Dialogue in March, the ECB's Governing Council has continued on its monetary policy tightening path. The two specific topics of discussion as chosen by ECON (Committee on Economic and Monetary Affairs) for this Dialogue are: 1) Interaction between price stability and financial stability; and 2) The effects of high inflation and monetary tightening on the real economy. Questions & answers (part 3)

Monetary Dialogue with Christine Lagarde, President of the European Central Bank: Questions & answers (part 3)

This Monetary Dialogue takes place in a still challenging environment, marked by uncertainty and inflationary pressures. While headline inflation has declined (to 7% in April) mostly due to the ongoing fall of energy prices, core inflation remains high and persistent, mostly driven by the rise in food and services prices. Since the last Monetary Dialogue in March, the ECB's Governing Council has continued on its monetary policy tightening path. The two specific topics of discussion as chosen by ECON (Committee on Economic and Monetary Affairs) for this Dialogue are: 1) Interaction between price stability and financial stability; and 2) The effects of high inflation and monetary tightening on the real economy. Questions & answers (part 2)

Monetary Dialogue with Christine Lagarde, President of the European Central Bank: Questions & answers (part 2)

This Monetary Dialogue takes place in a still challenging environment, marked by uncertainty and inflationary pressures. While headline inflation has declined (to 7% in April) mostly due to the ongoing fall of energy prices, core inflation remains high and persistent, mostly driven by the rise in food and services prices. Since the last Monetary Dialogue in March, the ECB's Governing Council has continued on its monetary policy tightening path. The two specific topics of discussion as chosen by ECON (Committee on Economic and Monetary Affairs) for this Dialogue are: 1) Interaction between price stability and financial stability; and 2) The effects of high inflation and monetary tightening on the real economy. Questions & answers (part 1)

Monetary Dialogue with Christine Lagarde, President of the European Central Bank: Questions & answers (part 1)

This Monetary Dialogue takes place in a still challenging environment, marked by uncertainty and inflationary pressures. While headline inflation has declined (to 7% in April) mostly due to the ongoing fall of energy prices, core inflation remains high and persistent, mostly driven by the rise in food and services prices. Since the last Monetary Dialogue in March, the ECB's Governing Council has continued on its monetary policy tightening path. The two specific topics of discussion as chosen by ECON (Committee on Economic and Monetary Affairs) for this Dialogue are: the interaction between price stability and financial stability; and the effects of high inflation and monetary tightening on the real economy. Extracts from the dialogue.

Monetary Dialogue with Christine LAGARDE, President of the European Central Bank: extracts

This Monetary Dialogue takes place in a still challenging environment, marked by uncertainty and inflationary pressures. While headline inflation has declined (to 7% in April) mostly due to the ongoing fall of energy prices, core inflation remains high and persistent, mostly driven by the rise in food and services prices. Since the last Monetary Dialogue in March, the ECB's Governing Council has continued on its monetary policy tightening path. The two specific topics of discussion as chosen by ECON (Committee on Economic and Monetary Affairs) for this Dialogue are: the interaction between price stability and financial stability; and The effects of high inflation and monetary tightening on the real economy. Opening statements by Irene TINAGLI (S&D, IT), Chair of the ECON Committee and by Christine LAGARDE, President of the European Central Bank. This transcription is a result of an automatic process. Please check against delivery.

Monetary Dialogue with Christine Lagarde, President of the European Central Bank: introduction by Irene TINAGLI (S&D, IT), Chair of the ECON Committee and by Christine LAGARDE, President of the ECB

European Parliamentary Week/Economic, social and budget concerns. MEPs and national MPs are meeting in Brussels for their annual conference on social, economic and budgetary issues affecting the EU. The parliamentarians’ discussions are set against a backdrop of geopolitical uncertainty and high inflation, which will necessitate a change in focus from previous years. Key opening remarks by Valdis DOMBROVSKIS, Executive Vice-President of the European Commission in charge of an Economy that works for People, and Commissioner for Trade and Mathias CORMANN, Secretary General of the Organisation for Economic Co-operation and Development (OECD)

European Parliamentary Week 2023 Opening session - Economic and social challenges in times of geopolitical uncertainty: Key opening remarks by Valdis DOMBROVSKIS and Mathias CORMANN

European Parliamentary Week/Economic, social and budget concerns. MEPs and national MPs are meeting in Brussels for their annual conference on social, economic and budgetary issues affecting the EU. The parliamentarians’ discussions are set against a backdrop of geopolitical uncertainty and high inflation, which will necessitate a change in focus from previous years. Welcoming words by Roberta METSOLA, EP President and Andreas NORLÉN, Speaker of the Swedish Parliament (Riksdag)

European Parliamentary Week 2023 - Opening session on Economic and social challenges in times of geopolitical uncertainty: Welcoming words by Roberta METSOLA and Andreas NORLÉN

Inflation and efforts to curb it are the focus of a plenary debate with European Central Bank President. MEPs concentrate on high inflation rates and divergences in inflation levels across the EU, seeking reassurances from Ms Lagarde about the ECB’s work to tackle it. Second part of the debate.

European Central Bank - annual report 2022: MEPs debate (part 2)

Inflation and efforts to curb it are set to be the focus of a plenary debate with European Central Bank President Christine Lagarde on Wednesday afternoon. Closing statements by Mairead MCGUINNESS, European Commissioner for Financial Services, Financial Stability, and Capital Markets Union, by Christine LAGARDE, President of the European Central Bank (ECB) and by Rasmus ANDRESEN (Greens/EFA, DE), Rapporteur.

European Central Bank - annual report 2022: Closing statements by Mairead MCGUINNESS, European Commissioner for Financial Services, by Christine LAGARDE, President of the European Central Bank and by Rasmus ANDRESEN (Greens/EFA, DE), Rapporteur

Inflation and efforts to curb it are the focus of a plenary debate with European Central Bank President. MEPs concentrate on high inflation rates and divergences in inflation levels across the EU, seeking reassurances from Ms Lagarde about the ECB’s work to tackle it. First part of the debate.

European Central Bank - annual report 2022: MEPs debate (part 1)

Inflation and efforts to curb it are the focus of a plenary debate with European Central Bank President. MEPs concentrate on high inflation rates and divergences in inflation levels across the EU, seeking reassurances from Ms Lagarde about the ECB’s work to tackle it. Opening statements by Rasmus ANDRESEN (Greens/EFA, DE), Rapporteur and by Christine LAGARDE, President of the European Central Bank and by Mairead MCGUINNESS, European Commissioner for Financial Services, Financial Stability, and Capital Markets Union.

European Central Bank - annual report 2022: opening statements by Rasmus ANDRESEN (Greens/EFA, DE), Rapporteur, Christine LAGARDE, President of the European Central Bank and by Mairead MCGUINNESS, European Commissioner for Financial Services

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