The 1980s was the Japanese decade with Japanese companies being the most valuable ones in the world and Japan being at the centre of the global economic growth. But since the 1990s, Japan has struggled with growth and deflation.
The Governing Council of the European Central Bank (ECB) expects the key ECB interest rates to remain at their present levels at least through the end of 2019.
The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility are 0.00%, 0.25% and -0.40% respectively and these rates are expected to remain in place at least until the end of 2019.
The European Commission slashed their GDP growth forecast for the European Union (excluding the United Kingdom) and the Eurozone for 2019 and 2020 citing slowing growth in China and weakening global trade.
The growth forecast for 2019 for the European Union (excluding the United Kingdom) was cut to 1.5% for 2019 (was previously forecast 2%) and for the Eurozone was cut to 1.3% (was previously forecast 1.9%).
Germany, Italy and the Netherlands all saw big downgrades for their growth outlook.
22 out of the 28 Member States of the European Union (EU) currently have national minimum wages. The 6 countries in the EU that do not currently have any minimum wage level set are Denmark, Italy, Cyprus, Austria, Finland and Sweden.
Japan has the highest percentage of over 65s at 26.56%. The other countries that make the top 25 countries for over 65s population are Italy, Germany, Portugal, Finland, Bulgaria, Greece, Sweden, Denmark, France, Croatia, Spain, Estonia, Austria, Malta, Lithuania, Czech Republic, Slovenia, Belgium, Netherlands, United Kingdom, Switzerland and Hungary all of which are in Europe.
The overall tax-to-GDP ratio, which is the sum of taxes and net social contributions as a percentage of Gross Domestic Product, stood at 40.2% in the European Union (EU) in 2017 and 41.4% of GDP for the Eurozone in 2017. These were the highest ever levels for both the European Union and Eurozone.