About: stability and growth pact

Economic governance 17-07-2017

European fiscal board chief: ‘Stop talking about recovery, we are approaching normality’

Arguably, the EU’s economic governance framework is one of the most divisive issues among member states and top priority in Europe’s to-do list of outstanding reforms. Niels Thygesen does not shy away from this challenge. After questioning European Commission fiscal stance for this year recommendation, he proposed a return to a more ‘prudent’ orientation for 2018. In October, he will address one of the hottest topics: whether the application of the Stability and Growth Pact (SGP) unfairly favoured countries like France.

Economy & Jobs 30-06-2017

France pledges to meet EU deficit target, despite strong headwinds

France will meet the EU deficit limit of 3.0% of GDP in 2017, the prime minister insisted Thursday (29 June), after the public accounts watchdog said it would miss the mark unless it took urgent action.

Economic governance 23-05-2017

Moscovici: Italy, Portugal, Spain fiscal progress ‘good news’

Portugal, Italy and Spain became yesterday (22 May) illustrative examples of the new period Europe enjoys. The executive congratulated Lisbon and Madrid for turning their economies upside down, just one year after they became the first countries that breached the fiscal rules, while it gave its blessing to Rome’s adjustments, one of the eurozone’s troublemakers.

Economy & Jobs 03-03-2017

Monti: Germany and France caused the economic crisis

The economic crisis in the EU was caused by the two “most revered parents” of the euro, Germany and France, which in 2003 did not comply with the stability pact, Mario Monti said today (3 March).

Economy & Jobs 28-02-2017

EU centre-right sets the tone for the Commission’s EMU paper

EXCLUSIVE / An innovation-driven economy where rules are respected and the labour market is flexible will help Europe ensure its position in a constantly changing world, according to a European People’s Party document seen by EURACTIV.com.

Economy & Jobs 23-02-2017

Mélenchon and Hamon unable to overcome differences on Europe

Discussions on a possible coalition between the two left-wing candidates for France’s presidential election appear to have broken down. Their fundamentally different views on the future of Europe make any partnership unworkable. EURACTIV France reports.

Economy & Jobs 23-02-2017

Brussels tells Italy to reduce fiscal gap or risk being fined

The European Commission warned Italy on Wednesday (22 February) it risked disciplinary action if it did not adopt promised measures to cut its deficit, adding to pressure on a government facing possible early elections and rising euro-sceptic sentiment.

Economy & Jobs 22-02-2017

EU to say French economy out of balance, Germany surplus too high

The European Commission will tell France on Wednesday (22 February) its economy is improving but still has excessive imbalances, while chiding Germany over its current account surplus and warning Italy it must reduce its rising public debt, an EU official said.

Elections 26-01-2017

French presidential hopeful says EU’s ‘3% public deficit dogma must end’

During a TV debate yesterday evening (25 January), both contenders for the Socialist ticket in the French Presidential election said they would loosen the country’s purse strings, with Benoît Hamon going a step further by promising to end the EU's “3% deficit dogma”. EURACTIV France reports.

Security 12-12-2016

Euro Bombs: European Investment Bank to be turned into arms bank?

The EU consistently fails to make crucial public investments in infrastructure, education or healthcare, but seems to have no problem finding the money for military upgrades, writes Fabio de Masi.

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 EURACTIV.com.

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 EURACTIV.com 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 EURACTIV.com.

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".