Tag: fiscal compact

The Dutch cabinet became the latest victim of the EU-imposed push for austerity, with liberal Prime Minister Mark Rutte presenting his resignation to Queen Beatrix yesterday (23 April). The case of the Netherlands, a triple A eurozone country which is becoming prey to the markets, is raising doubts about the 'fiscal compact' merits, experts warn.

The new fiscal treaty signed by European leaders a fortnight ago has become a political bargaining chip in key member states, threatening its planned ratification.

Conservative European leaders from Germany, Spain, Italy and Britain have banded together to shun the campaign of François Hollande, the socialist candidate for the presidential election in France and front-runner in the opinion polls, according to weekly magazine Der Spiegel.

A "no thrill" EU summit starting today (1 March) will avoid several contentious issues against the background of the French election campaign. Instead, leaders are poised to give speeches about "growth",  congratulate themselves for the re-election of Herman Van Rompuy as Council president and sign the 'fiscal compact' treaty.

As part of an ongoing series, EurActiv France is profiling major candidates in the 2012 French presidential elections, analysing in detail what their political action, programmes and policies mean for the European Union. François Hollande, Socialist candidate and current front-runner, promises a break with the 'Merkozy' consensus on Europe's economic crisis and a revision of the fiscal compact treaty.

The decision of 25 EU governments to endorse a fiscal compact marked a turning point in the sovereign debt crisis, writes Guido Montani of the Union of European Federalists. Now a debate on the political future of the EU begins.

The newly agreed 'fiscal pact' in reality provides no kind of fiscal solidarity between the signing countries and it will not deliver unless the EU moves from European governance to European government, writes Joan Marc Simon from Democracia Global in Spain.

Socialist leaders warned conservative politicians meeting in Brussels for an EU summit today (30 January) about "empty talk" when claiming they support policies to boost jobs and growth. 

Britain should be relaxed about being "out of the room" when Europe discusses eurozone issues, Prime Minister David Cameron said yesterday (26 January), dismissing any prospect of signing up to a new treaty with other EU states to enforce stricter budget controls.

Poland, a European Union member but outside the eurozone, warned on yesterday (24 January) it could not sign up to the bloc's new treaty on tighter fiscal rules if it is not allowed to take part in meetings of the single-currency states.

The latest document released by German Chancellor Angela Merkel and French President Nicolas Sarkozy in preparation of the 30 January European summit is a sad example of micromanagement of the EU Commission and Council, a prominent Brussels-based political analyst told EurActiv.

The latest draft of the fiscal compact - which we reveal here - includes a new clause compelling countries to ratify the pact or face losing lines of bailout cash as a penalty.

UK Conservatives have welcomed "clear concessions to Britain" which were included in the latest draft of the European fiscal pact, leaked to the press yesterday (11 January). The European Parliament meanwhile rejected the new treaty draft, saying it undermines the EU institutions.

The proposed 'fiscal compact' treaty currently being negotiated overly emphasises austerity and is insufficient to resolve the economic difficulties, says German MEP Jo Leinen. However the unprecedented attention brought to the EU by the crisis also presents an opportunity for European federalists to make their case to the public, he says.

The proposed 'fiscal compact' treaty currently being negotiated overly emphasises austerity and is insufficient to exit the economic difficulties, says Jo Leinen, a social democratic MEP from Germany. But the unprecedented attention brought to the EU by the crisis also presents an opportunity for European federalists to make their case to the public, he says.

As negotiations over the EU's new 'fiscal compact' begin in Brussels, the Bundestag promises to make its voice heard. EurActiv Germany spoke with Patrick Sensburg, a Christian Democratic MP who chairs the Subcommittee on European Law.