About: fiscal rules

The EU works – when it ignores its rules
Given the circumstances, the European Union's economy is doing reasonably well. However, this success currently relies on the EU circumventing its own rules, putting into question how sensible they are in the first place.
Four countries enter race to nominate new EU bailout fund chief
As the term of the current managing director of the European Stability Mechanism (ESM) Klaus Regling draws to a close in October 2022, four men have been proposed by their government to succeed him.
Spain, Netherlands propose ideas to reform EU fiscal rules
Usually on opposite sides of the debate on fiscal rules, the Dutch finance minister Sigrid Kaag and her Spanish counterpart Nadia Calviño presented a proposal that could steer the reform of fiscal rules that is currently being prepared in the EU institutions.
EU Commission urges member states to invest more
With insecurity for the European economy increasing due to Russia’s war of aggression in Ukraine, the EU executive calls on countries to keep investing in economic growth and remains open about an eventual prolongation of the suspension of fiscal rules.
Public investment: EU gives with one hand and takes with the other
The new cohesion report by the EU Commission shows that a large part of public investment in cohesion countries stems from EU cohesion funds rather than from member states themselves whose own investments are constrained by EU fiscal rules.
Europe must reform its fiscal rules or risk disintegration
Thirty years after the Maastricht Treaty was signed, the fiscal rules it imposed on EU member states are an outdated and counterproductive constraint, writes Benoît Lallemand.
German finance minister announces comeback for debt brake in 2023
In his inaugural speech to the German parliament, the liberal finance minister Christian Lindner argued for fiscal restraint but showed openness for more public investment to strengthen growth and decarbonise the economy.
2022: Fiscal showdown in uncertain economic circumstances
The EU's economic policy agenda for the coming year is packed with negotiations on the bloc's fiscal rules, tax policies, minimum wages, and financial regulations. Here is a comprehensive look at what is coming up.
New Dutch government under Mark Rutte wants to spend more
The coalition agreement of the new Dutch government under Prime Minister Mark Rutte foresees more spending on childcare, teacher salaries, and environmental issues, showing the increased influence of the centre-left, liberal party D66.
French and German finance ministers stress common interests in first meeting
Although he is known to be a hardline opponent of public debt, the new German finance minister showed his openness to compromise during his first trip to Paris only days after taking office.
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.