About: fiscal rules
Discussing EU fiscal rules is a ‘terrible mistake’, says historian Adam Tooze
In an interview with EURACTIV, a prominent economic historian and chronicler of economic crises argued for a different relationship between politics and finance and a new understanding of inflation. According to Adam Tooze, the European Union should focus on growth and not get bogged down in an argument about fiscal rules.
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 Fiscal Board blames Commission for ineffective recommendations
The European Fiscal Board complained on Wednesday (10 October) that member states had failed to use strong economic growth to reduce their public debt, and called for a major change of EU fiscal rules to ensure better enforcement by the European Commission.
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.
EMU: Focus on market discipline, financial stability, not on fiscal smoothing
The mood in Europe has changed. Attention has shifted from crisis management to how to make the European Union and in particular the eurozone function better in the longer term, writes Juha Sipilä.
Italy and Spain: A tale of two deficits
While Italy has opted for a confrontational approach to clinch budget spending leeway from the European Commission, Spain is hoping that better-than-expected growth will placate EU demands.
Guindos’ reappointment hailed by Eurogroup, Commission
EU officials in Brussels welcomed the confirmation of Luis de Guindos as Spain's economic affairs minister for a second term. The man is considered as an “extremely able” envoy of the Madrid government.
ECB warns against weak application of deficit rules
The ECB issued a strong warning to the EU institutions on Friday (9 September) about the “long-term consequences” of poor implementation of the fiscal rules, in the aftermath of the partial pardons given to Spain and Portugal, after they missed their deficit targets.
Brussels willing to grant Spain more time to submit fiscal measures
EU officials have responded with a conciliatory tone to Spain’s difficulties in meeting agreed fiscal targets as new elections loom in December to break the ongoing political stalemate.
Commission split on credibility of rules as Spain and Portugal get ‘pardon’
A strong group of commissioners was in favour on Wednesday (27 July) of imposing at least a symbolic fine on Spain and Portugal for breaching the Stability and Growth Pact, but Jean-Claude Juncker opted for a zero penalty - supported by German Finance Minister Wolfgang Schauble.
Italy and Spain test EU’s ‘intelligent’ use of economic rules
The European Commission is expected to fine Spain on Wednesday (26 July), but it will give two extra years to Madrid to adjust its budget - while the commissioners pledge a solution for Italian banks that will protect small investors.
MEPs step in to ease sanctions over deficit rules
The European Parliament’s intervention “would benefit” Spain and Portugal, as they face the freezing of millions in EU funds for having breached fiscal rules, sources told EURACTIV.com.![[EU Council Eurozone/Flickr]](https://www.euractiv.com/wp-content/uploads/sites/2/2015/05/moscovici_press_conference_crediteu_council_eurozone_flickr.jpeg)
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.
Commission threatens Spain and Portugal with fines
The EU threatened Spain and Portugal Tuesday (12 July) with huge fines for failing to fix years of high deficits, in the first time Brussels has wielded its disciplinary powers over member states' budgets.
EU declares Spain, Portugal in violation of deficit rules
The European Commission on Thursday (7 July) officially declared Spain and Portugal in violation of the EU rules on government overspending, the first step towards unprecedented penalties against members of the 28-country bloc.
Sanction procedure on Spain and Portugal within days
The European Commission has postponed again triggering unprecedented sanction procedures against Spain and Portugal for breaching the EU’s fiscal rules, but will formally adopt the decision by 8 July, EU sources told EURACTIV.com today (July 5)
Spain and Portugal braced for EU deficit verdict on 12 July
The Slovak presidency of the EU expects the European Commission to recommend sanctions against Spain and Portugal for breaching EU budget deficit rules this week, in time for a decision at the upcoming Ecofin meeting of finance ministers on 12 July.
Spain, Portugal sanctions on the table despite Brexit, EU warns
The European Commission will make a final decision next Tuesday (5 July) on whether to launch sanction procedures against Spain and Portugal for breaching EU fiscal rules, officials told EURACTIV.com.
Spanish elections delay potential budget deficit fines
The European Commission today (18 May) decided to delay potential fines against Madrid and Portugal for failing to meet their budget deficit targets, partly becuase of the upcoming Spanish elections on 26 June.
Commission to punish Spain and Portugal, ‘pardon’ Italy, on deficits
Spain and Portugal will get only one extra year to fulfil EU fiscal rules on their defecits, once sanctions against both countries are adopted, while Italy will escape an infringement procedure, EURACTIV.com has learned.
Commission to recommend sanctions against Spain and Portugal
EXCLUSIVE / The European Commission will launch a sanctions procedure against Spain and Portugal or the first time, as the college concluded on Tuesday (10 May) that the two countries have not made “sufficient effort” to cut their deficits, EURACTIV.com has learned.
Terrorism hits economic growth, as Commission unveils spring forecast
Security concerns and the risk of new terrorist attacks are expected to further damage European economies in the next few months, against a backdrop of the weak economic growth seen in the EU over the last years, the European Commission warned in its spring economic forecasts on Tuesday (3 May).