About: Fiscal compact treaty
Member states warn EU fiscal supervision ‘inadequate’
Rules to control national spending are “complex” and the current approach is “inadequate”, the chair of the EU Network of Independent Fiscal Institutions, José Luis Escrivá, said on Tuesday (31 January).
Spain’s Rajoy appoints EU-friendly Cabinet
Spain's leader Mariano Rajoy, starting a second term after months of political paralysis in his country, formed a new cabinet last night (3 November) that looks set to maintain controversial economic reforms and cement EU ties.
A budget for the eurozone is taking shape
Budgetary capacities are an important tool to protect the eurozone from economic shocks, and their extension to non-eurozone countries could help with the economic convergence of the newer member states, writes Siegfried Muresan.
Italy wants EU bonds to fund refugee response
A common European Union policy to manage external borders and cope with the refugee crisis should be funded with common resources, including through the issuance of EU bonds, Italy said on Monday (22 February).
Socialists propose European investment fund exempt from fiscal rules
Creating a European fund exempt from EU fiscal rules is the main idea of a 200 page report commissioned by the Socialists and Democrats group in the European Parliament, just ahead of the 18-19 summit which is expected to make decisions concerning the investment plan, recently presented by Commission President Jean-Claude Juncker.
France, Italy, Belgium promise reform to avoid sanctions
France, Italy and Belgium have sent letters to the European Commission pledging structural reforms and possible extra fiscal steps to buy time before a ruling on whether their budget policies break EU rules, Commissioners said on Friday (28 November) while presenting assessments of the draft budgets of the 18 eurozone countries.
Moscovici talks tough on budget discipline ahead of commissioner hearing
The European Commission will not let EU budget discipline rules be flouted, incoming economic affairs commissioner Pierre Moscovici said on Monday (29 September), days after his former colleagues in the French government said Paris would again miss EU targets.
Czech Republic makes about-turn, joins EU fiscal treaty
The Czech cabinet agreed on Monday (24 March) to join the European Union's fiscal compact on budget stability, in a move it said underlined Prague's support for closer EU integration after a period of relatively eurosceptic government.
EU mulls economic reform contracts but commitments remain unclear
EU leaders are set to clash this week on whether to make EU countries receiving aid from a European reform fund adhere to binding contracts, as Germany remains vague on deal sweeteners.
EU braced for ‘ideological summit’ on austerity v growth
An EU summit opening in Brussels today (14 March) is expected to see leaders offer conflicting views on the economy, with France’s Socialist President François Hollande leading calls for Europe to loosen the austerity policies adopted in response to the eurozone debt crisis. Hollande will find an unexpected ally in UK Prime Minister David Cameron, who also backs a more “flexible” approach to debt policing.
Key German judge backs EU budget vetting powers
The German constitution does not rule out giving an EU financial commissioner the power to ensure states stick to savings targets in their national budgets, the head of the Germany's top court said on Wednesday (27 February).
French Parliament passes EU budget discipline treaty
With 477 votes in favour and only 70 against, the French National Assembly approved the EU treaty on budget discipline yesterday (9 October), giving François Hollande's ruling Socialists the majority it needed to pass the pact without support from the Conservative opposition. EURACTIV France reports.
France open to new EU ‘solidarity’ treaty
France is open to the idea of a new European Union treaty to deepen integration if it is deemed necessary for new "solidarity" mechanisms in the bloc such as debt mutualisation, said French Minister for European Affairs Bernard Cazeneuve.
French coalition rift widens over EU budget pact
President François Hollande's government demanded yesterday (24 September) its Green allies fall into line over European Union policy after the ecologist party said it would oppose a European Union budget discipline pact in a vote next month.
French Greens’ Cohn-Bendit quits party in fiscal pact row
European lawmaker Daniel Cohn-Bendit revoked his membership of the French Greens on Sunday (23 September) in protest at the party's decision to oppose the ratification of the European Union's budget discipline pact.
Eurozone debates special budget to counter ‘asymmetric shocks’
Several countries would like a special budget for the eurozone to protect the single currency from “asymmetric shocks”, with France, Germany and others backing the idea, according to EU diplomats.
France readies EU fiscal pact for ratification amid backbench rebellion
France's Socialist-led government today (19 September) kickstarts ratification of a European Union budget discipline pact it grudgingly accepts as the next step out of the euro debt crisis. Meanwhile, another EU treaty for further political integration is already in the pipeline.
Hollande sticks to his guns, calls for EU debt pooling
France’s President François Hollande has insisted that the European Union needed more solidarity and a system for debt mutualisation, a position which fell foul of Germany’s insistence that this should only happen after countries agree to greater fiscal oversight from Brussels. EURACTIV France reports.
Merkel mulls ‘convention’ to draw up new EU treaty
German Chancellor Angela Merkel is considering an EU 'convention' to draw up a new treaty for closer European political unification and help overcome the bloc's sovereign debt crisis, the weekly Der Spiegel reported on Sunday (26 August). Merkel later denied the report.Slowly but surely on the path towards a federal European Union
Shared responsibility and solidarity are the two key words that will steer the European debate in the coming years as the European Union slowly moves towards a federal model, writes Didier Reynders.
Fiscal treaty splits Dutch parties ahead of election
The euro's new fiscal pact has become a political football in the Netherlands ahead of September elections, with Finance Minister Jan Kees de Jager dismissing opposition suggestions it should reject the treaty.
Commission plays down risk of ESM ratification delay
The European Commission today (14 August) downplayed any risk of a substantial delay in Germany’s final approval of the eurozone's permanent bailout fund despite efforts to postpone a ruling on its legality.