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.
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.
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.
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.
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)
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.
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.
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".
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.
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, EurActiv.com has learned.
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, EurActiv.com has learned.
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).
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.
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, EurActiv.com has learned.
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.
Political turbulence in Portugal, Italy, Greece and Spain is once again threatening Europe's fragile economy, the European Commission warned in its latest economic forecast, published on Thursday (4 February).