About: budget deficit
Life after COVID: EU re-thinks budget rules for new era
So often the source of rows between its members, the European Union starts reviewing its rules for national budgets to fit a post-pandemic reality of higher public debt and the huge costs of transitioning to a zero-emissions economy.
Draghi on quest to challenge EU rules and grow out of public debt
Italian Prime Minister Mario Draghi unveiled an ambitious Italian budget for 2022-2024 last week, with deficits above the limits set by the Stability and Growth Pact, in what appears to be a bet on a change in the EU’s fiscal rulebook.
EU likely to waive borrowing limits again in 2022
The European Union is likely to waive limits on government borrowing again in 2022, given persistent uncertainties about the pace of economic recovery once the coronavirus pandemic is contained, officials say.
Berlin to borrow €218.5bn to fund virus stimulus
The German government plans to take on €218.5 billion in new debt this year to pay for massive stimulus to help the country recover from the coronavirus impact, finance ministry sources said Monday (15 June).
France’s budget deficit could skyrocket to 7% of GDP in COVID-19 aftermath
The French government continues to announce stimulus spending, as well as support measures for companies, employees and the research sector worth billions to mitigate the COVID-19 crisis. Although necessary, those measures could send the country's budget deficit through the roof, EURACTIV France reports.
Coronavirus deaths rise in Italy, government prepares economic support
The death toll from an outbreak of coronavirus in Italy has risen to 34, five more than a day earlier, officials said on Sunday (1 March), as the government prepared to boost spending to help the fragile economy.
Italy’s Tria sees no obstacles to budget deal with EU
Italy's economy minister said on Tuesday (25 June) he was confident of reaching an agreement with the European Union over the country's budget, adding that deficit targets in a draft deal would reflect a "more than prudent" fiscal policy.
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.
Italy’s Di Maio, Salvini slam EU debt warning
Italy's populist Deputy Prime Minister Luigi Di Maio on Wednesday (5 June) dismissed Brussels' formal warning over the country's excessive public spending as "too easy".
IMF urges France to step up reforms to rein in debt
The International Monetary Fund on Monday (3 June) warned France that its public debt is "too high for comfort", calling on the nation to tackle the issue by stepping up spending reforms.
Italian PM Conte says he will resign if coalition squabbles persist
Italian Prime Minister Giuseppe Conte said Monday (3 June) he was ready to resign unless the two parties in the governing populist coalition -- the League and the Five Star Movement -- stopped squabbling.
Isolated Italy excluded from EU top jobs race, faces pressure over debt
Italy risks a rude awakening in the race for top European Union jobs as it faces growing isolation after eurosceptic nationalists in its ruling coalition won big in last week's European Parliament elections.
Italy accuses EU of prejudice after grim economic forecasts
Italy accused EU authorities of prejudice on Tuesday (7 May) after they forecast the euro zone's third largest economy would stagnate this year and its huge public debt would rise further.
Italy’s populist leaders pledge to replace central bank’s top brass
Italy's populist leaders on Saturday (9 February) promised to replace top officials at the country's central bank, who they said must pay for failing to prevent a spate of banking scandals in which thousands lost their savings.
Salvini calls for ‘Italian-Polish axis’ to replace Paris-Berlin
Italy's far-right Interior Minister Matteo Salvini on Wednesday (9 January) said populists from Italy and Poland should spark a "European spring" to replace the centre-right influence of Germany and France, ahead of key EU elections.
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.
Salvini says Commission approved the Italian budget
Italy has done a deal with the European Commission over its contested 2019 budget, a spokeswoman at the Economy Ministry said on Tuesday (18 December), signaling an end to weeks of wrangling that had shaken financial markets.
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.
Macron announces financial concessions in bid to end ‘yellow vest’ revolt
Embattled French President Emmanuel Macron Monday (10 December) announced a series of financial measures seeking to defuse the "yellow vest" revolt that has triggered violent protests in cities across the country.
Commission: Italy, EU to work to bring views on 2019 budget closer together
Italy and the European Commission will work in the coming days to bring closer their positions on Italy's 2019 draft budget, which the EU executive says breaks EU laws by not reducing the country's huge public debt.
Germany proposes tough conditions for ‘European IMF’
Germany's plans for a "European Monetary Fund" to help eurozone states in difficulty would set strict eligibility criteria that shut out those who are failing to tackle high national debt.
Italian populist government braces for EU budget rejection
The Italian government expects the European Commission to decide for the first time ever on Tuesday (23 October) to ask a member state to revise its draft budget, a government source said on Sunday.
Italy coalition chiefs defiant on budget, forecast GDP growth
The leaders of Italy's ruling parties said on Tuesday (9 October) they would permit no change to the government's 2019 budget plan, despite financial market pressure and criticism from the country's central bank and the parliamentary fiscal watchdog.