Economic governance
Five takeaways from the EU’s economic recommendations to member states
While the public finances of all EU member states are now officially out of the “red zone”, the European Commission on Wednesday (5 June) still had tough economic policy recommendations for Spain, Italy, Belgium, Greece and Germany.
No agreement on euro budgetary tool- ministers send ‘hot potato’ back to leaders
EU finance ministers failed to reach an agreement in the early hours of Friday (14 June) on an anti-shock instrument to shield the euro, as they continued to clash over almost every feature on the agenda, including the source of funding.
Finance ministers press Italy to stick to EU fiscal rules
EU finance ministers told the Italian government on Thursday (13 June) to meet its fiscal obligations in order to reduce its high debt, with the European Commission insisting on “substantial corrections” to rein in public spending.
Eurogroup to nudge forward EMU reform before next week’s EU summit
EU finance ministers will try to close a deal on deepening the Economic and Monetary Union, including a tentative new budget for the eurozone, during the Eurogroup meeting on Thursday (13 June) in an inclusive format.
EU moves closer to debt action as Italy angles for compromise
The European Union moved closer on Tuesday (11 June) to taking disciplinary action over Italy's growing debt, as authorities in Rome made tentative steps to avert a procedure that could saddle the country with large fines and alienate investors.
Commission to launch sanction procedure against Italy
The European Commission is preparing to launch a new excessive deficit procedure against Italy as a response to the government's lack of efforts to control public spending in the highly indebted EU country.
EU top court rejects ECB compensations for investors affected by Greek crisis
The EU's top court ruled on Thursday (23 May) against demands for the European Central Bank to compensate private investors affected by the restructuring of the Greek public debt in 2012.
EU elections 2019: This is what the parties want for our economy
A new industrial policy for Europe, more support for small-and-medium sized enterprises (SMEs), and improved tax policy are common priorities of the European political families for the next mandate, while a review of the ECB mandate is also included in the manifestos of many parties for the EU elections.
Growing concerns over Greece and Italy, as negotiations stall on eurozone budget
Latest Greece and Italy’s fiscal plans raised concerns in Brussels, as the Eurogroup met for another round of negotiations on the budgetary instrument for the Eurozone on Thursday (16 May), without major achievements.
Italy clouds Eurogroup discussion on public spending
Finance ministers from the 19 eurozone countries will review public spending in the region on Thursday (16 May), with Italy once again in the spotlight amid an ongoing economic slowdown.
Slowing growth: EU countries urged to further adjust spending
The European Commission called on Spain, Italy, France and Belgium to do more efforts to balance their public accounts yesterday (7 May), citing a slowing economy.
Austrian chief economist: ‘A lot can still be done to complete the euro zone’
The Austrian national bank (OeNB) hosted its annual conference on 20 years of the euro on 2 and 3 May. In an interview with EURACTIV, the bank's chief economist explains how the euro zone debt crisis changed the economic "tool box" of the EU currency and spells out the challenges ahead.
Brussels was right about Italy’s weak growth, Juncker says
It is an overstatement to claim that Italy’s debt constitutes a risk for global markets, but a zero-growth rate can only worsen Rome's problems, European Commission President Jean-Claude Juncker said in an interview with state broadcaster RAI on Sunday (31 March).
Brussels ‘really worried’ about Italy’s slowing economy
The EU warned Sunday (24 March) of a new row brewing with Italy over its budget, barely a few months after both sides agreed on a hard-fought deal with Rome's disputed 2019 finances.
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.
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.
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.
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.
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.
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.
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.
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...
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).
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.