About: Austerity
Fiscal adjustment needed to unlock recovery funds, EU official warns
EU leaders will discuss for the first time on Friday (19 June) the €750 billion recovery fund proposed by the Commission to overcome the coronavirus crisis. But in order to access EU aid, member states will have to bring down their ballooning public debt, an EU official explained.
Commission vows to break with troika-type conditions in recovery phase
It is increasingly evident that the European Commission has no intention to return to the tight cash-for-reform system to manage the recovery funds and that ‘hawkish’ member states could find it difficult to turn the proposed procedure into a troika-type oversight.
Commission defends gradual return to fiscal discipline to avoid ‘mistakes’ of austerity
The European Commission could start controlling deficit and debt levels from next year, once the recession is over. But the road to balancing public accounts again will avoid the “mistakes” of the last crisis, the institution said on Wednesday (20 May).
Portugal’s ruling Socialists win election but fall short of outright majority
Portugal's ruling Socialists won Sunday's (6 October) parliamentary election but fell short of an outright majority, meaning Prime Minister António Costa will need to negotiate a new deal with one or both of his far-left allies in the previous legislature.
French business expansion slows amid sluggish eurozone
France's private sector is growing at a slower rate and has reached the lowest level in the past four months, according to forecasts published by IHS Markit on Monday (23 September). For the eurozone, business expansion fell to the lowest level since June 2013. EURACTIV's partner La Tribune reports.
Greek parliament approves first post-bailout budget
Greek lawmakers approved on Tuesday (18 December) the country's first post-bailout budget which projects a high primary surplus next year and sees a pick-up in economic growth.
As finances improve, Greece scraps pension cuts
Greece's parliament on Tuesday (11 December) voted to scrap plans to cut state pensions, in a motion led by the left-led governing coalition hoping to shore up its flagging support ahead of a general election next year.
New Italian prime minister takes aim at migrants, austerity in maiden speech
The leader of Italy's new populist government vowed on Tuesday (5 June) to redistribute migrants in the EU and review EU sanctions against Russia, in his first policy speech to lawmakers since being sworn in.
All lights ‘set on green’ for end to Greek bailout, says Luxembourg finance minister
Greece’s exit from a bailout program instituted by the eurozone and International Monetary Fund looks set to proceed in August, Luxembourg finance minister Pierre Gramegna said on Friday (11 May).
Greece gets green light for fresh bailout cash
Eurozone finance ministers approved another 6.7 billion euros in bailout cash for Greece yesterday (22 January) after Athens pushed through controversial reforms that drew strikes and protests.
Schulz says EU allies, including Tsipras, urged him to join Merkel government
The head of Germany's Social Democrats, Martin Schulz, said on Monday (4 December) he had been urged by French President Emmanuel Macron and other European leaders to join Chancellor Angela Merkel's next government and push for EU reforms.
Greece, lenders reach deal on reforms under bailout review
Greece and its euro zone creditors reached a preliminary deal on Saturday (2 December) on reforms Athens needs to roll out under its bailout programme, a move that could pave the way for the country to leave the aid plan in August.
Europe’s excluded are falling through the cracks of healthcare
Whether it is an elderly German man who lost his job or a young boy that reached Europe fleeing war at home, Europe’s excluded are falling through the cracks of healthcare systems, writes Médecins du Monde.
S&D chief works for a progressive alliance away from ‘Orbánising’ EPP
There should be a clear distinction between the right and the left in European politics and the EU socialists should open the door to other anti-austerity progressive forces as well as to those who do not want to follow the “Orbánisation” of the centre-right, S&D leader Gianni Pittella told EURACTIV.com in an interview.
EU socialists pledge to turn left to tackle growing extremism
The EU Socialists and Democrats said on Wednesday (18 October) that they have to keep their distance from right-wing parties and be the basis for an alliance with progressive forces in order to counter growing extremism in Europe.
Schäuble receives €100 notes with his face at farewell party
Eurozone finance ministers deluged German Finance Minister Wolfgang Schäuble with farewell gifts yesterday (9 October) as the man who inspired Europe's austerity answer to the debt crisis attended his last meeting with them.
Financing a ‘global new deal’: How to collect a trillion dollars
One trillion dollars. This “global stimulus” could change the world if a 5% tax hike is imposed on the “top decile” – the 10% richest segment of the population, a report of the United Nations Conference on Trade and Development (UNCTAD) is proposing.
End to austerity? Poll gamble exposes rift in Britain’s ruling party
An early election was meant to bind the Conservatives to Theresa May's agenda for at least five years, but instead it has badly shaken the governing party with ministers questioning its seven-year pursuit of austerity.
Moscovici sees deal on Greek loans, fair solution on debt
European Union Currency Commissioner Pierre Moscovici said he expects Greece and its international lenders to reach a compromise deal on new loans this week and that a "fair solution" will be found on debt relief.
Greek PM calls for EU investment to break debt deadlock
Greece's Prime Minister Alexis Tsipras on Wednesday (7 June) urged the EU to commit to investment aimed at boosting Greek growth in order to break a deadlock between European creditors and the IMF over the nation's debt.
Greece slashes GDP forecast in new budget plans
The Greek government on Sunday (14 May) slashed its GDP growth forecast for 2017 as it moved towards submitting new austerity measures, including a wider tax net, for approval by lawmakers.
The ‘missing scenario’: There are alternatives for Europeans
In order to revive the European project, the progressive forces must have an ambitious vision that goes beyond an intergovernmental system and implements a genuine Community method, MEPs from the Progressive Caucus alliance write.
Rome, Athens look to Macron to help douse anti-EU fires
The Italian and Greek governments are counting on France's likely next president Emmanuel Macron to help them see off populist parties that blame European Union-enforced austerity and open immigration policies for economic and social ills.