About: stability and growth pact

Economy & Jobs 18-09-2019

New investment clause fails to win EU member state support

EU member states remain split over a possible relaxation of the bloc’s fiscal rules meant to facilitate investment in the bloc, despite calls from the European Central Bank and some governments to increase public spending and mitigate the risk of recession.
Economy & Jobs 12-09-2019

Draghi urges Germany, Netherlands to invest against risk of recession

The European Central Bank said on Thursday (12 September) it will reactivate its bond-buying programme, stepping up the monetary stimulus to maintain economic growth, but its president Mario Draghi told Germany and the Netherlands the time has come to spend more in order to avoid the risk of a downturn.
Economic governance 12-09-2019

The seven-point recipe to improve EU’s messy fiscal rules

The European Fiscal Board has recommended major reform of the Stability and Growth Pact in order to simplify the EU’s spending rules and favour productive investment in the era of low-interest rates.
Economy & Jobs 10-09-2019

Italy’s PM seeks EU reform as government wins confidence vote

Italian Prime Minister Giuseppe Conte called Monday (9 September) for the reform of European Union budget rules and cooperation on immigration as his new government won a parliamentary confidence vote.
Global Europe 29-07-2019

Trade unionist: Von der Leyen has to deliver on Social Europe ‘if she wants to gain trust’

The Workers Group of the Economic and Social Committee welcomes European Commission president-elect Ursula Von der Leyen’s announcements on social policy but if she wants to be trusted, she needs to deliver, president Olivier Röpke told EURACTIV.
Economy & Jobs 28-05-2019

Commission to launch sanction procedure against Italy

The European Commission is preparing to launch a new excessive deficit procedure against Italy as a response to the government's lack of efforts to control public spending in the highly indebted EU country.
Economic governance 17-05-2019

Growing concerns over Greece and Italy, as negotiations stall on eurozone budget

Latest Greece and Italy’s fiscal plans raised concerns in Brussels, as the Eurogroup met for another round of negotiations on the budgetary instrument for the Eurozone on Thursday (16 May), without major achievements.
Economy & Jobs 01-04-2019

Brussels was right about Italy’s weak growth, Juncker says

It is an overstatement to claim that Italy’s debt constitutes a risk for global markets, but a zero-growth rate can only worsen Rome's problems, European Commission President Jean-Claude Juncker said in an interview with state broadcaster RAI on Sunday (31 March).
Economic governance 25-03-2019

Brussels ‘really worried’ about Italy’s slowing economy

The EU warned Sunday (24 March) of a new row brewing with Italy over its budget, barely a few months after both sides agreed on a hard-fought deal with Rome's disputed 2019 finances.
Economy & Jobs 14-02-2019

Don’t link EU regional funds with budget deficit rules, Parliament insists

EU lawmakers rejected on Wednesday (13 February) a controversial proposal by the European Commission to make payments of cohesion funds conditional to the observation of country-specific recommendations on economic reforms. 
Economy & Jobs 04-01-2019

Poland lashes out against EU and Paris over French deficit

Poland on Friday (4 January) accused France of breaching European Union laws by exceeding spending limits, the latest in a series of long-running clashes between the two member states. Paris last month forecast a 2019 deficit of 3.2%, which would...
Economy & Jobs 27-12-2018

Macron had ‘lost authority’ by exceeding deficit limit, Oettinger said

France president Emmanuel Macron "lost authority" by releasing a budget draft which would exceed the EU's 3% deficit limit, Budget Commissioner Günther Oettinger said on Thursday (27 December) in an interview.
Economy & Jobs 15-11-2018

Italy sticks to its guns in revised budget submitted to EU

Italy defied Brussels again on Tuesday (13 November) as Finance Minister Giovanni Tria presented only a slightly modified draft budget, despite the European Commission rejecting the previous spending plan in an unprecedented decision.
Economy & Jobs 08-11-2018

No compromise on EU budget rules, Moscovici warns Italy

The EU’s Economics chief Pierre Moscovici insisted on Thursday (8 November) that there was little room for Brussels to compromise with the Italian government over its budget plans as he unveiled the European Commission's latest economic forecasts.
Economy & Jobs 06-11-2018

Eurozone ministers urge inflexible Italy to drop budget defiance

Eurozone finance ministers urged Italy on Monday (5 November) to reverse course on its rule-breaking budget amid fears of market turmoil and a return of the debt crisis.
Economic governance 23-10-2018

Commission rejects Italian draft budget in unprecedented decision

The European Commission rejected Italy’s 2019 budget in an unprecedented decision on Tuesday (23 October), after the government in Rome failed to give a substantial response to the executive's allegations of a breach of the EU law.
Economic governance 23-10-2018

Italy and Brussels meet head-on over budgetary dispute

The European Commission prepares to reject Italy's budget on Tuesday (23 October) due to an “unprecedented” breach of EU fiscal rules. But Rome sticks to its guns and presented the breach as a “difficult but necessary decision” taken by the government.
Economy & Jobs 18-10-2018

Italy’s ‘unprecedented’ breach of fiscal rules clouds euro summit

Euro-area leaders agreed on Thursday (18 October) to accelerate the work to bolster the monetary union as the European Commission questioned half a dozen member states’ efforts to balance their public accounts, particularly Italy.
Economy & Jobs 12-10-2018

German minister: Rescue package for Italy won’t be necessary

German Finance Minister Olaf Scholz said on Thursday (11 October) he did not expect Italy to need aid to deal with its debt pile. Any intervention by the European Central Bank would require Italy to formally apply for a rescue programme, sources said. 
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.
Economic governance 12-07-2018

Commission rejects auditors’ call to tighten control of EU member states’ debt

The European Commission has rejected the European Court of Auditors’ recommendation to strengthen surveillance of EU member states with high levels of public debt.
Economy & Jobs 18-06-2018

Commission’s ‘stabilisation function’ very modest, says eurozone fiscal sheriff

The European Fiscal Board has discredited the Commission’s proposed fund to protect investment as “very modest”, “narrow” and not well designed, its chair Niels Thygesen said on Monday (18 June).
Economy & Jobs 15-05-2018

Member states should renew fiscal vows

In 2012, all but two EU member states committed themselves to strengthening the rules and institutions that govern their national budget preparation processes by signing the European Fiscal Compact. However, little has been done since, writes Michal Horvath.

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