Economic governance

Economy & Jobs 12-03-2019

Eurogroup keeps anti-shock capacity for eurozone budget off the table

Eurogroup president Mario Centeno said late on Monday (11 March) that the future eurozone budget would not include a stabilisation function, despite insistance by France and a handful of other countries to broaden its scope.
Economy & Jobs 26-02-2019

The Franco-German proposal for a ‘eurozone budgetary instrument’, in detail

France and Germany tabled a joint proposal on Thursday (21 February) to establish a new "eurozone budgetary instrument" that would support national reforms and investments in the single currency bloc.
07-02-2019

Uncertainty dampens European growth

Euro area economy is expected to slow down more markedly than initially expected, because of the impact of increasing risks, including a disorderly Brexit, and external tensions primarily driven by the US-China trade war.
04-02-2019

French finance chief wants to tax expatriate business leaders

French Minister of Economy and Finance Bruno Le Maire wants to introduce legislation to ensure that heads of large French businesses living abroad pay more taxes in France. EURACTIV France’s partner La Tribune reports.
Economy & Jobs 22-01-2019

Eurogroup kick off race for ECB chief economist, Ireland’s Lane puts name forward

Ireland presented Philip Lane’s candidacy as chief economist at the European Central Bank on Monday (21 January), as the Eurogroup opened calls for nominations in a relaxed first session of the year. 
21-01-2019

ECB reshuffle: The EU can do better than gentlemen’s agreements behind closed doors

Appointments to the European Central Bank's Executive Board are no less than a strategic and political decision over the future of the Eurozone. But experience has shown this process is not transparent, open, and democratic enough to protect the ECB from its legitimacy gap, argue Stanislas Jourdan and Sebastian Diessner.
Economy & Jobs 07-01-2019

20 years of the euro: An imperfect success story

The single currency, which was officially launched on 1 January 1999, has performed its role of shielding against crises and stabilising prices. However, the insufficient convergence of the eurozone’s economies shows the fragility of this incomplete construction. EURACTIV France’s media partner La Tribune reports.
Economy & Jobs 04-01-2019

Poland lashes out against EU and Paris over French deficit

Poland on Friday (4 January) accused France of breaching European Union laws by exceeding spending limits, the latest in a series of long-running clashes between the two member states. Paris last month forecast a 2019 deficit of 3.2%, which would...
19-12-2018

EU freezes budget disciplinary procedure against Italy

The solution offered to the European Commission is not ‘ideal’ but Italy's efforts are sufficient to avoid the launch of the excessive deficit procedure, the EU executive announced on Wednesday (19 December).
17-12-2018

Italy makes concessions in latest budget draft proposal

The European Commission noted progress in Italy’s revised budget for 2019 sent late on Sunday as EU experts crunched numbers to see if Italy's effort was sufficient to end the budgetary spat.
Economy & Jobs 14-12-2018

Leaders wrap up year-long euro reform with face-saving package

EU leaders concluded on Friday (14 December) a year-long discussion to bolster the eurozone by approving extra money to resolve failing banks and additional powers for the European Stability Mechanism, the EU’s rescue fund.
Economy & Jobs 13-12-2018

ECB chief Draghi downgrades economic forecast as risks persist

European Central Bank President Mario Draghi presented on Thursday (13 December) the bank's downgraded economic forecast for the eurozone for this year and next, as uncertainties and risks remain prominent in the region.
13-12-2018

Italy’s Conte admits defeat on budget, presents new plan to EU

Italy has admitted defeat and agreed to change its “beautiful” budget plan to avoid the opening of a disciplinary procedure against Rome.
12-12-2018

Commission to judge in May France’s deficit deviation

The European Commission will conclude in May whether France’s deficit slippage caused by new spending measures represents a limited and temporary deviation allowed by the rules.

Green transition: ECB and budgetary authorities should face their responsibilities

Reforming the rules for coordinating budgetary and economic policies in the eurozone is a necessity to conciliate economic, social and climate objectives, write Olivier Bodin and Michael Vincent.
Economy & Jobs 04-12-2018

EU reaches limited agreement to bolster economic and monetary union 

EU finance ministers concluded a deal on Tuesday (4 December) to bolster the region with new tools to save ailing banks and member states but postponed Europe-wide instruments to protect depositors or stabilise national economies.
30-11-2018

Italy one step closer to EU budget procedure

Italy’s deputy Prime Minister Luigi Di Maio said he was confident about ongoing talks with the European Commission over the country’s budget, despite a fresh recommendation by EU government representatives on Thursday (29 November) to open an excessive deficit procedure against Italy.
Economy & Jobs 27-11-2018

ECB urges completion of monetary union in ‘unstable’ world

ECB chief Mario Draghi called for the completion of the eurozone framework and to reduce divergencies between West and East members in order to protect the euro in a more "unstable" world on Monday (26 November).
25-11-2018

Commission ‘not at war’ with Italy, Juncker says

The European Commission has no plan to start a war with Italy over its budget, Commission President Jean-Claude Juncker said a day after a working dinner with Italian Prime Minister Giuseppe Conte on Saturday (24 November). But Rome confirmed that the main reforms included in the disputed budget will stay unchanged.
21-11-2018

Commission launches excessive deficit procedure against Italy, saying it is ‘sleepwalking into instability’

The European Commission hedged its bets and called for the opening of an excessive deficit procedure against Italy on Wednesday (21 November) as Rome refused once again to revise its draft budget plan.
20-11-2018

Italy’s revised budget ‘did not dispel concerns’, Eurogroup president says

Italy’s slightly modified budget might not get the green light from the European Commission, the president of the Eurogroup, Mario Centeno, told the Parliament’s Economic and Monetary Affairs Committee on Tuesday (20 November), raising the likelihood of an excessive deficit...
Economy & Jobs 06-11-2018

Eurozone ministers urge inflexible Italy to drop budget defiance

Eurozone finance ministers urged Italy on Monday (5 November) to reverse course on its rule-breaking budget amid fears of market turmoil and a return of the debt crisis.
Economy & Jobs 02-11-2018

The euro ‘hawks’ want bigger say for crisis fund in cuts and reforms

The so-called Hanseatic League of EU countries called for a “strict conditionality” and more powers for the European Stability Mechanism over those countries requesting assistance to avert a full-blown crisis.
Economy & Jobs 26-10-2018

Member states must not let Commission stand against Italy alone

The rejection of Italy’s draft budget by the European Commission on Tuesday is unprecedented in the history of the Stability and Growth Pact. Member states cannot sit idly by but must take a more active role in the political conflict over fiscal sovereignty.

Want to know what's going on in the EU Capitals daily? Click here!