Articles related to "The EU's economic governance: Rewriting the rulebook"

The financial and economic ills afflicting Europe would be treated more effectively if those who govern the Union - in fact, national leaders gathered at EU summits - were not themselves suffering from amnesia, writes Alain Lamassoure.

The debt crisis has highlighted the limits of inter-governmental cooperation in the euro zone. Attempting to manage a single currency with 17 separate economic policies is like squaring the circle, write Guy Verhofstadt, Daniel Cohn-Bendit and other politicians at the Spinelli Group, which campaigns for a federalist Europe.

Preparations should be made for European treaty change according to the conclusions from today's (23 October) EU summit, following a lengthy dispute over the relative powers of the eurozone and wider EU 27 countries.

Herman Van Rompuy, European Council President, decided to postpone the EU summit, originally planned for next week, until 23 October. It appears extra time is needed for Germany and France to overcome discord over bank recapitalisation plans, despite the agreement touted last Sunday.

German Chancellor Angela Merkel reiterated her openness to modifying the EU treaties on a visit to Brussels yesterday (5 October), making an overture to British Eurosceptics who are seeking to use the euro zone debt crisis to repatriate powers back to Westminster.

Members of the European Parliament are rejoicing today (15 September) as they announce new rules which for the first time will grant more power to Brussels than to member states in policing the debt levels of troubled eurozone countries.

The leaders of France and Germany unveiled plans on Tuesday (16 August) for closer economic integration in the euro zone, including deficit limits enshrined in national law and biannual summits chaired by European Council President Herman Van Rompuy.

The EU has moved a step closer to a deal on how it will police national debt in the future but questions remain over exactly how much pressure can be put on governments which do not listen. 

The European Parliament and EU member states are still divided on crucial reforms to whittle down countries' debts just weeks before a deadline.

As European Union leaders prepare to meet in Brussels this week to create a lasting lending facility for indebted countries, France and Germany have surprised observers by stating their openness to discussing whether countries that share the euro currency should harmonise fiscal policy.

European Union heads of state will start discussions this week on a permanent crisis resolution mechanism amid persistent calls from Germany to introduce an orderly sovereign default procedure following the Greek debt crisis.

France and Germany called on European Union member states yesterday (18 October) to draw up proposals by next March for a permanent system to handle crises in the euro zone by suspending voting rights, admitting that it would mean changing the EU treaty.

Entrusted by EU leaders to come up with a proposal to reform the bloc's economic governance by the end of the month, European Council President Herman Van Rompuy said his taskforce had reached agreement on the main points, but was still stuck on the nitty-gritty of the blueprint.

The European Commission yesterday (29 September) proposed tough new sanctions for countries who fail to follow the EU's rules on reining in deficits and cutting public debt, in an attempt to prevent a repeat of the Greek sovereign debt crisis.

Divisions are likely to emerge this week when European Union governments discuss sharpening rules on budget discipline and its executive tables proposals for tougher sanctions on fiscal sinners.

European Union leaders are meeting in Brussels today (16 September) amid continuing disagreement over what sanctions to apply for EU countries breaking the bloc's budget discipline. Some are already asking for more time to conclude the negotiation.

European Union leaders meet on Thursday (16 September) as part of ongoing discussions to better coordinate their economic policies in the wake of the Greek debt crisis. But although progress has been made on some issues, discussions remain deadlocked over a proposed set of indicators to broaden economic surveillance among EU member states.

Theo Waigel, Germany’s former finance minister and one of the architects of the euro in the 1990s, says the Greek sovereign debt crisis has exposed the failure of the institutions underpinning the common currency, in particular the European Commission. He spoke to EurActiv.de in an exclusive interview.

European Union finance ministers agreed yesterday (7 September) to submit budget plans for early review by the European Commission and other EU governments as part of moves to strengthen fiscal discipline in the bloc.