About: excessive deficit procedure

Economic governance 27-07-2018

Sanchez loses key vote as junior allies revolt against minority government

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.
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 27-04-2017

Future of the French deficit hangs on election result

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.
Economy & Jobs 23-02-2017

Brussels tells Italy to reduce fiscal gap or risk being fined

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.
Economy & Jobs 22-02-2017

EU to say French economy out of balance, Germany surplus too high

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.
Economy & Jobs 20-02-2017

Commission to warn Italy over rising debt

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.
Euro & Finance 17-01-2017

Moscovici: Progress on deficit reduction must not be reversed

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.
Euro & Finance 21-09-2016

French right plans to deepen the deficit in 2017

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.
Euro & Finance 27-07-2016

Canary Islands ask for exemption from Spanish deficit fines

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.
[EU Council Eurozone/Flickr]
Euro & Finance 18-07-2016

Spain and Portugal pledge new measures to avoid EU deficit fines

Both Spain and Portugal have submitted their arguments to the European Commission in a bid to avoid penalties for breaching the fiscal rules, expected to be announced on 27 July.
Euro & Finance 14-07-2016

The threat of populism must be a non-issue in decision to fine Portugal and Spain

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.
Euro & Finance 24-05-2016

Moscovici wants to make EU deficit rules more flexible

Pierre Moscovici, has said he hopes that all the EU’s excessive deficit procedures will be over by 2017. A change in the European deficit rules may be on the horizon. EURACTIV France reports.
Euro & Finance 21-04-2016

Commission unconvinced by Spain’s deficit reduction efforts

The deficit reduction measures announced by Madrid are "a step in the right direction". But the Commission is not convinced they will solve Spain's economic problems. EURACTIV Spain reports.

Commission backs French labour law reforms

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.
French flag
EU Priorities 2020 04-02-2016

Can France revive its influence in Brussels?

With French influence in Brussels at an all-time low, Paris is searching for ways to breathe life back into its EU delegation. EURACTIV France reports.
Euro & Finance 09-12-2015

Member states limit new flexibility clauses in EU fiscal pact

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.
Euro & Finance 27-11-2015

Italy, France and Belgium warned over high debt, low growth

Italy, France and Belgium are vulnerable to economic shocks because of their large public debts and low potential growth, the European Commission warned on Thursday (26 November).

Brussels ready to give France budget leeway for security

The European Union said on Tuesday (17 November) it was ready to take French security priorities into account after France said it was likely to break eurozone deficit rules due to the Paris attacks.
Euro & Finance 17-11-2015

Spain overtakes France as the eurozone’s problem child

France’s budget deficit is unlikely to fall below 3% of GDP by 2017. But the deterioration of Spain's public finances may save Paris the worst criticisms. EURACTIV France reports
Manuel Valls

France to reform ‘overly complex’ labour laws next year, PM says

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).
Euro & Finance 20-03-2015

Valls opts for growth over deficit reduction

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
Michel Sapin (left) and Jeroen Dijsselbloem at the Eurogroup, 13 Oct. 2014 [Photo: Council of the European Union]
Euro & Finance 11-03-2015

France wins EU approval for two-year reprieve on deficit

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.
Michael Noonan
Euro & Finance 11-03-2015

After France, Ireland wants EU budget flexibility

Ireland demanded more leeway on Tuesday (10 March) for its budget spending next year, after the European Commission showed leniency in applying EU rules to France and Italy.