Economic governance

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.
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.
26-10-2018

French people barely comforted by positive economic conditions

France tends to develop in the opposite direction to the rest of the eurozone and the economic lights are now on green. However, French morale tells a very different story and the international situation raises concerns among economic forecasters. EURACTIV France reports.  
Economy & Jobs 25-10-2018

Draghi ‘confident’ about a deal on Italian budget

European Central Bank President Mario Draghi expressed his confidence on Thursday (25 October) about the likelihood of an agreement between the European Commission and the Italian government over Rome's spending plan for next year.
25-10-2018

Italian budget standoff may consign eurozone integration drive to slow lane

An uncompromising challenge to EU budget rules by Italy is providing the first big test for reforms introduced to save the euro zone nine years ago as financial crisis threatened to tear it apart.
Economy & Jobs 25-10-2018

Course unchanged for ECB as growth worries bubble under

The European Central Bank seems certain to keep policy unchanged on Thursday (25 October) but likely to acknowledge the growth outlook is deteriorating, even if not yet enough to derail a carefully crafted retreat from stimulus.
24-10-2018

German economy booms but Brexit and US clouds are on the horizon

The German economic powerhouse is booming. But its export-centric model is drawing complaints from other eurozone countries and the United States.
23-10-2018

Commission rejects Italian draft budget in unprecedented decision

The European Commission rejected Italy’s 2019 budget in an unprecedented decision on Tuesday (23 October), after the government in Rome failed to give a substantial response to the executive's allegations of a breach of the EU law.
23-10-2018

Italy and Brussels meet head-on over budgetary dispute

The European Commission prepares to reject Italy's budget on Tuesday (23 October) due to an “unprecedented” breach of EU fiscal rules. But Rome sticks to its guns and presented the breach as a “difficult but necessary decision” taken by the government.
16-10-2018

Juncker: If we accept the Italian budget, ‘countries would insult us’

European Commission President Jean-Claude Juncker told Italian media on Tuesday (16 October) that he could not accept the extra spending budgeted by the Italian government because other member states would “insult” the institution.