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Portuguese budget gets green light – after last-minute adjustments

Topic: stability and growth pact

Euro & Finance 04-10-2016

MEPs oppose 'immoral' suspension of EU funds for Spain and Portugal

A broad majority of MEPs spoke against freezing EU funds for Spain and Portugal at a European Parliament session late on Monday (3 October), saying such a decision would be “immoral”, “unfair”, “counterproductive” and even “illegal”.
Euro & Finance 15-09-2016

Stiglitz: The 'easiest way would be for Germany to leave Europe'

Joseph Stiglitz, winner of the Nobel Prize in economics, has blasted Germany's austerity measures and the management of the eurozone. EurActiv Germany reports.
Euro & Finance 12-09-2016

As elections near, French politicians renew assaults on EU budget rules

Nobody yet knows the winner of France's presidential election next year, but the smart money is on one loser: the 3% cap on government deficits enshrined in eurozone rules.
Euro & Finance 12-09-2016

ECB warns against weak application of deficit rules

The ECB issued a strong warning to the EU institutions on Friday (9 September) about the “long-term consequences” of poor implementation of the fiscal rules, in the aftermath of the partial pardons given to Spain and Portugal, after they missed their deficit targets.
Euro & Finance 28-07-2016

Commission split on credibility of rules as Spain and Portugal get ‘pardon’

A strong group of commissioners was in favour on Wednesday (27 July) of imposing at least a symbolic fine on Spain and Portugal for breaching the Stability and Growth Pact, but Jean-Claude Juncker opted for a zero penalty - supported by German Finance Minister Wolfgang Schauble.
Euro & Finance 21-07-2016

MEPs step in to ease sanctions over deficit rules

The European Parliament’s intervention “would benefit” Spain and Portugal, as they face the freezing of millions in EU funds for having breached fiscal rules, sources told
Euro & Finance 14-07-2016

The threat of populism must be a non-issue in decision to fine Portugal and Spain

Stability and Growth Pact rules must be applied to the letter if the eurozone is to keep any kind of credibility. Populism must not be used as an excuse to reward irresponsible budgetary policies, argues Friedrich Heinemann.
Euro & Finance 14-07-2016

Decision-making and disarray in the EU

The EU’s complex bureaucracy has prevented it from dealing with crises effectively, writes Antonia Colibasanu.
Euro & Finance 07-07-2016

EU declares Spain, Portugal in violation of deficit rules

The European Commission on Thursday (7 July) officially declared Spain and Portugal in violation of the EU rules on government overspending, the first step towards unprecedented penalties against members of the 28-country bloc.
Euro & Finance 05-07-2016

Sanction procedure on Spain and Portugal within days

The European Commission has postponed again triggering unprecedented sanction procedures against Spain and Portugal for breaching the EU’s fiscal rules, but will formally adopt the decision by 8 July, EU sources told today (July 5)
Euro & Finance 05-07-2016

Why Germany has had enough of Juncker

According to the Sunday Times, Angela Merkel sees Jean-Claude Juncker as "part of the problem" with the EU. But it was she who installed him at the head of the European Commission in 2014. So why the change of mind now? EurActiv's partner La Tribune reports.
Euro & Finance 05-07-2016

Spain and Portugal braced for EU deficit verdict on 12 July

The Slovak presidency of the EU expects the European Commission to recommend sanctions against Spain and Portugal for breaching EU budget deficit rules this week, in time for a decision at the upcoming Ecofin meeting of finance ministers on 12 July.
Euro & Finance 01-07-2016

Spain, Portugal sanctions on the table despite Brexit, EU warns

The European Commission will make a final decision next Tuesday (5 July) on whether to launch sanction procedures against Spain and Portugal for breaching EU fiscal rules, officials told
Euro & Finance 03-06-2016

Dijsselbloem berates Juncker for failing to apply EU pacts

Eurogroup President Jeroen Dijsselbloem has criticised European Commission President Jean-Claude Juncker for saying that the European Commission has given France leeway on fiscal rules "because it is France".
Euro & Finance 24-05-2016

Moscovici wants to make EU deficit rules more flexible

Pierre Moscovici, has said he hopes that all the EU’s excessive deficit procedures will be over by 2017. A change in the European deficit rules may be on the horizon. EurActiv France reports.
Euro & Finance 18-05-2016

Spanish elections delay potential budget deficit fines

The European Commission today (18 May) decided to delay potential fines against Madrid and Portugal for failing to meet their budget deficit targets, partly becuase of the upcoming Spanish elections on 26 June.
Euro & Finance 18-05-2016

Commission to punish Spain and Portugal, ‘pardon’ Italy, on deficits

Spain and Portugal will get only one extra year to fulfil EU fiscal rules on their defecits, once sanctions against both countries are adopted, while Italy will escape an infringement procedure, has learned.
Euro & Finance 11-05-2016

Commission to recommend sanctions against Spain and Portugal

EXCLUSIVE / The European Commission will launch a sanctions procedure against Spain and Portugal or the first time, as the college concluded on Tuesday (10 May) that the two countries have not made “sufficient effort” to cut their deficits, has learned.
Euro & Finance 03-05-2016

Terrorism hits economic growth, as Commission unveils spring forecast

Security concerns and the risk of new terrorist attacks are expected to further damage European economies in the next few months, against a backdrop of the weak economic growth seen in the EU over the last years, the European Commission warned in its spring economic forecasts on Tuesday (3 May).
Euro & Finance 02-05-2016

Sanctions loom over Spain for breaching fiscal rules

The fourth largest economy in the eurozone is about to become the first country to be punished for breaking the EU’s Stability and Growth Pact, has learned.
Euro & Finance 15-03-2016

Romanian bank chief pessimistic about economic growth

The governor of Romania’s National Bank has announced that despite the current bright financial outlook in the Eastern European country, this period of growth could be short lived. EurActiv Romania reports.
Euro & Finance 08-03-2016

Brussels piles pressure on Spain and Italy to balance their budgets

The European Commission will send a series of warnings to Spain, Italy, Finland, Romania and Belgium today (8 March) because of their “serious” deviations from agreed-on fiscal paths, has learned.
Euro & Finance 12-02-2016

Guindos: Growth is more important than few decimal points of deficit

“Given the global situation, the most important thing is economic growth”, Spain’s Economic Affairs minister, Luis de Guindos, said after the Ecofin council on Friday (12 February).
Euro & Finance 05-02-2016

Portuguese budget gets green light - after last-minute adjustments

The EU Commission accepted on Friday (5 February) the draft proposal from Portugal for the country's 2016 budget - but only after Lisbon included last-minute adjustments and following an intense discussion in an extraordinary meeting the college of commissioners.