Spain’s socialist government lost on Friday (27 July) a key vote on the revised fiscal path to balance the public accounts, as Pedro Sanchez’s allies abstained calling into question the survival of his fragile minority.
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.
Emmanuel Macron has promised to respect the EU’s budget rules, while Marine Le Pen has hardly mentioned the issue in her campaign. But Brussels is preparing for tough talks on the French deficit once the new president is elected. EURACTIV France reports.
The European Commission warned Italy on Wednesday (22 February) it risked disciplinary action if it did not adopt promised measures to cut its deficit, adding to pressure on a government facing possible early elections and rising euro-sceptic sentiment.
The European Commission will tell France on Wednesday (22 February) its economy is improving but still has excessive imbalances, while chiding Germany over its current account surplus and warning Italy it must reduce its rising public debt, an EU official said.
The European Commission will warn Italy on Wednesday (22 February) it could face EU disciplinary action for not reducing its huge public debt as required by EU laws, unless Rome delivers on deficit cutting measures as promised, an EU official said.
Pierre Moscovici spoke to EURACTIV's partner Ouest-France about France's left-wing primary, the impact of Donald Trump's election, the 3% deficit rule, the Commission's March white paper and the importance of the euro.
During François Hollande's five years as president, France has tightened its belt and brought its budget deficit down to within EU limits, Michel Sapin said on Tuesday (20 September). But the opposition appears ready to abandon austerity. EURACTIV France reports.
The president of the Canary Islands has asked for the archipelago to be excluded from any potential suspension of European regional funds on account of Spain's failure to sufficiently cut its deficit. EURACTIV Spain reports.
Stability and Growth Pact rules must be applied to the letter if the eurozone is to keep any kind of credibility. Populism must not be used as an excuse to reward irresponsible budgetary policies, argues Friedrich Heinemann.
Vladis Dombrovskis, the European Commissioner for the Euro and Social Dialogue, has welcomed France's controversial labour law reforms, which directly respond to the EU executive's criticisms of the French economy. EURACTIV France reports.
EXCLUSIVE / EU member states believe the European Commission is giving too much breathing space to struggling national economies when applying the Stability and Growth Pact, and decided to adopt a more restrictive view of EU fiscal rules, according to an official paper seen by EURACTIV.
The government will propose legislation to simplify over-complex labour laws and promote more collective bargaining accords at a sectoral level, French Prime Minister Manuel Valls said on Wednesday (9 September).
The French premier has told the European Commission that Paris intends to honour its budget commitments, but has ruled out any measures that could threaten the country's anaemic economic growth. EURACTIV France reports.
European finance ministers on Tuesday (10 March) approved a controversial two-year extension for France to get its deficit within the bloc's limits, despite accusations that bigger member states are treated more leniently than smaller ones.