Tag: economic governance

Having managed to reach deals on banks and the long-term budget, EU leaders have started their two-day summit somewhat relieved, as they embark on talks to tackle youth employment, finance much-needed investments and boost growth. EurActiv obtained the draft conclusions. Read our live coverage, below.

German Chancellor Angela Merkel was due to Paris on Thursday (30 May) for talks with President François Hollande aimed at coming up with new ideas to strengthen management of the 17-country eurozone and boost European industry.

The European Commission told France on Wednesday (29 May) to cut labour costs, reform its pension system and open up its protected markets in exchange for a two-year respite to bring its budget deficit under 3% of GDP. French President François Hollande replied swiftly, saying “the Commission cannot dictate what we should do”.

The EU has tightened its grip on economic governance, but a wrong focus might prove poisonous, writes Renaud Thillaye.

The European Commission will check eurozone countries' draft budgets to verify whether they are in line with EU rules and will ask for changes if they are not, under a deal struck today (20 February) with the European Parliament, which adopted the so-called two-pack bundle of legislation.

A self-appointed “Future of Europe Group” of 11 EU foreign ministers published yesterday (18 September) its “final’ report, calling for a stronger EU role in foreign and defence policy. Many of their ideas appear to mirror proposals put forward by Commission President José Manuel Barroso in his recent State of the Union speech.

EU heads of states and government who start their two-day summit today “have problems” deciding what to do with proposals for greater fiscal and political integration tabled by European Council President Herman Van Rompuy and three other leaders, EurActiv was told.

German Finance Minister Wolfgang Schäuble is seen as the best candidate to become the next president of the Eurogroup. EurActiv.de and EurActiv.fr report on reactions in Germany and France.

Belgium's enterprise minister Paul Magnette criticised the European Commission for being "too tough" on his country and pleaded for more "margin of manoeuvre" for national governments to enforce EU budget discipline rules.

Hungary is set to become the first country hit by the EU's new economic sanctions as the European Commission prepares to announce proposals to suspend part of the country's regional funding for failing to correct its excessive deficit.

The necessity to extend the EU competence in the field of fiscal policy is crucial and it lies in the hands of the European Parliament to address it since the EU lacks credible leadership at the moment, says British Liberal MEP Andrew Duff.

Olli Rehn, the Finnish EU Commissioner dealing with the most sensitive portfolio these days – Economic and Monetary Affairs – was promoted today (27 October) to Commission vice president and de-facto economic affairs minister of the eurozone. 

The leaders of the four largest groups in the European Parliament have strongly backed a plan by Commission President José Manuel Barroso to deal with the eurozone crisis, strengthening his position ahead of a crunch EU summit later this month.

The European Parliament is getting ready to adopt six legislative bills aimed at mastering the bloc's debt crisis, amid criticism from leftist MEPs that the new rules are not social enough.

The European Parliament is getting closer to a breakthrough on the 'six-pack' of economic governance legislation, Guy Verhofstadt, leader of the liberal ALDE group, told Brussels journalists yesterday (7 September).

Banks operating in the European Union have dismissed Franco-German proposals for a tax on financial transactions, saying it would not stabilise markets and could serve to distort them.

On the cusp of another EU summit to address the Greek crisis and Europe's economic future, diplomats speak of a "shambolic union" while draft summit conclusions seen by EurActiv boast progress. 

Member states need to have more faith in pooling sovereignty via the EU if they are to respond more quickly and concertedly to the eurozone crisis, argues ALDE group leader Guy Verhoftstadt.

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

Unlike their illustrious predecessors, German Chancellor Angela Merkel and French President Nicolas Sarkozy maintain a "superficial" alliance, former European Commission President Jacques Delors told EurActiv in an exclusive interview.

A government collapse in Portugal and political tensions in other member states mean EU leaders are set to postpone until June a decision to reform the euro zone and boost the bloc's bailout facility as they meet for a crucial economic summit in Brussels today and tomorrow (24-25 March).

Guy Verhofstadt, leader of the liberal group in the European Parliament, has tabled a proposal for economic convergence in the EU. He said his was more wide-ranging than the recent Merkel-Sarkozy plan and would put the European Commission, not EU member states, in the driving seat.

As EU leaders prepare for a summit on Friday (4 February), European Parliament members overseeing draft proposals to strengthen the bloc's budget discipline have made their voices heard, pushing for higher fines to be slapped on errant economies and tougher sanctions for those fudging national accounts.

Coordinating economic governance is widely considered as a way for the EU to get out of the crisis. However, there is little agreement among member states on what economic governance really means. Indeed, even within single countries like Germany there is much division. EurActiv Germany reports.