About: deficit target

Economic governance 12-06-2019

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.
Economy & Jobs 31-08-2017

Europe watches closely as France unveils ‘mother of all reforms’

The French government unveils on Thursday (31 August) a highly anticipated labour reform plan seen at home and abroad as a crucial test of new President Emmanuel Macron's reform mettle.
Economy & Jobs 30-06-2017

France pledges to meet EU deficit target, despite strong headwinds

France will meet the EU deficit limit of 3.0% of GDP in 2017, the prime minister insisted Thursday (29 June), after the public accounts watchdog said it would miss the mark unless it took urgent action.
Elections 03-04-2017

Portugal raises wages and keeps deficit low

While the European left is largely struggling where it holds power, Portugal's government alliance stands out as a remarkable exception. It is raising wages and gaining popularity as well as delivering the lowest budget deficit in living memory.
Economy & Jobs 16-03-2017

Commission worried Romania will miss 2017 deficit target

The European Commission is still concerned that Romania will go from registering the highest growth in the EU to racking up the biggest budget deficit. But Bucharest insists there is no cause for concern. EURACTIV Romania reports.
Global Europe 17-02-2017

Juncker: Europe must not bow to Trump’s demands on NATO

European Commission President Jean-Claude Juncker said yesterday (16 February) that Europe must not cave in to US demands to raise military spending, arguing that development and humanitarian aid could also count as security. His chief spokesperson however said different things.
Euro & Finance 16-02-2017

Cost of deadly quakes hits €23bn as Italy asks for EU aid

A series of deadly earthquakes that struck central Italy over the past six months has cost the country more than €23 billion, the nation's Civil Protection Agency said Wednesday (15 February).
Euro & Finance 12-09-2016

As elections near, French politicians renew assaults on EU budget rules

Nobody yet knows the winner of France's presidential election next year, but the smart money is on one loser: the 3% cap on government deficits enshrined in eurozone rules.
François Hollande
Euro & Finance 04-03-2015

Hollande pledges €4bn in ‘new savings’ to meet EU deficit target

French President François Hollande said Wednesday (4 March) his government would find €4 billion in "new savings" this year to meet demands from Brussels.
Euro & Finance 08-12-2014

Italy and France hit back at Merkel over economic reforms call

Italy and France expressed irritation on Sunday (7 December) with a call from Chancellor Angela Merkel for them to do more to bring their budgets into line with EU rules, telling the German leader to focus on her own economic woes instead of lecturing others.
Michel Sapin, August 30, 2014 [Parti socialiste/Flickr]
Euro & Finance 21-11-2014

France tests EU patience over prospect of budget deficit fines

French Finance Minister Michel Sapin has played down any risk that Paris might be fined for breaking EU budgetary rules, days before the European Commission rules on the government's failure to cut its budget deficit. EU officials, meanwhile, beg to differ.
Jyrki Katainen, vice-président de la Commission européenne en charge de l’Emploi de la Croissance, de l’Investissement et de la Compétitivité
Euro & Finance 29-10-2014

EU provisionally clears French, Italian budgets after tweaks

The European Commission provisionally accepted the budgets of France and Italy, saying on Tuesday (28 October) that no eurozone states had submitted deficit plans for next year that seriously breached EU stability rules.
Michel Sapin (left) and Jeroen Dijsselbloem at the Eurogroup, 13 Oct. 2014 [Photo: Council of the European Union]
Euro & Finance 28-10-2014

France, Italy trim 2015 budgets to win EU approval

France and Italy unveiled plans on Monday (27 October) to trim their deficits more than previously planned in last-minute pitches to get clemency from the European Commission on their 2015 budgets.
Matteo Renzi (left) and François Hollande at the Milan summit on jobs and growth, 8 Oct. 2014 [Palazzo Chigi/Flickr]
Euro & Finance 23-10-2014

EU in last-ditch talks with Italy and France on 2015 budget changes

The European Commission is discussing changes with Italy and France to their 2015 draft budgets to avoid having to send back the plans that break European Union rules, EU officials said on Wednesday (22 October).
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Economy & Jobs 21-08-2012

Greece in diplomatic talks amid euro exit fears

As European leaders slowly return from their summer break, Greece is at the center of the European stage yet again. Athens is expected this week to ask for two extra years to meet its deficit targets. The idea however hasn't gone down well amongst international creditors, who are due to release a 30 bn euro loan as early as next month in order to save Greece from defaulting. The European Commission said on Monday that no decision will be made until late September when Europe's assessment on Greece's reforms will be published.

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