About: fiscal rules

Economy & Jobs 01-06-2022

Sovereign debt level causes new political headache in France

While the European Central Bank (ECB) suggests that an increase in interest rates is no longer a taboo subject, the issue of reducing public debt is back on the French political agenda.
Economy & Jobs 24-05-2022

Mixed reactions to suspension of EU fiscal rules

While EU finance ministers meeting in Brussels on Monday (23 May) discussed the pros and cons of the EU Commission’s proposal to keep the EU’s fiscal rules suspended for another year, civil society organisations used the opportunity to question the fiscal rules more fundamentally.
Economy & Jobs 23-05-2022

EU fiscal rules to be suspended for another year

Reacting to the economic consequences of the Russian invasion of Ukraine, the European Commission postponed the renewed enforcement of its fiscal rules by a year, to 2024.
Economy & Jobs 05-05-2022

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.
Economy & Jobs 03-05-2022

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.
Economy & Jobs 05-04-2022

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.
Economy & Jobs 02-03-2022

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.
Economy & Jobs 10-02-2022

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.
Economy & Jobs 14-01-2022

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.
Economy & Jobs 30-12-2021

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.
Mark Rutte leaves building
Economic governance 17-12-2021

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.
Economic governance 14-12-2021

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.
Economic governance 02-11-2021

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.
Economic governance 04-10-2021

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.
Economic governance 11-10-2018

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.
Economic governance 10-10-2018

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.
Euro & Finance 09-11-2016

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.
Euro & Finance 04-11-2016

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.
Euro & Finance 12-09-2016

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.
Euro & Finance 08-09-2016

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.
Euro & Finance 28-07-2016

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.
Euro & Finance 27-07-2016

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.
Euro & Finance 21-07-2016

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]
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.