About: stability and growth pact

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.
Economy & Jobs 16-11-2017

European Fiscal Board calls for simple but tougher rules

The European Fiscal Board, the EU's finance watchdog, wants clearer rules and real sanctions to punish profligate member states and limit the European Commission’s discretion to interpret the Stability and Growth Pact.
Future EU 16-10-2017

Varoufakis tells Macron to adopt the ‘empty-chair’ tactic

Former Greek finance minister Yanis Varoufakis supports Macron’s federalist proposals on the euro single currency but believes only a real threat could make Germany budge on the issue. EURACTIV France reports.
Economy & Jobs 01-09-2017

Brussels welcomes French labour reforms as unions and left camp complain

Decried by the opposition and trade unions, the French labor reforms are praised by the European Commission and employers. EURACTIV France reports.
Economic governance 17-07-2017

European fiscal board chief: ‘Stop talking about recovery, we are approaching normality’

Arguably, the EU’s economic governance framework is one of the most divisive issues among member states and top priority in Europe’s to-do list of outstanding reforms. Niels Thygesen does not shy away from this challenge. After questioning European Commission fiscal stance for this year recommendation, he proposed a return to a more ‘prudent’ orientation for 2018. In October, he will address one of the hottest topics: whether the application of the Stability and Growth Pact (SGP) unfairly favoured countries like France.
Economy & Jobs 30-06-2017

France pledges to meet EU deficit target, despite strong headwinds

France will meet the EU deficit limit of 3.0% of GDP in 2017, the prime minister insisted Thursday (29 June), after the public accounts watchdog said it would miss the mark unless it took urgent action.
Economic governance 23-05-2017

Moscovici: Italy, Portugal, Spain fiscal progress ‘good news’

Portugal, Italy and Spain became yesterday (22 May) illustrative examples of the new period Europe enjoys. The executive congratulated Lisbon and Madrid for turning their economies upside down, just one year after they became the first countries that breached the fiscal rules, while it gave its blessing to Rome’s adjustments, one of the eurozone’s troublemakers.
Economy & Jobs 03-03-2017

Monti: Germany and France caused the economic crisis

The economic crisis in the EU was caused by the two “most revered parents” of the euro, Germany and France, which in 2003 did not comply with the stability pact, Mario Monti said today (3 March).
Economy & Jobs 28-02-2017

EU centre-right sets the tone for the Commission’s EMU paper

EXCLUSIVE / An innovation-driven economy where rules are respected and the labour market is flexible will help Europe ensure its position in a constantly changing world, according to a European People’s Party document seen by EURACTIV.com.
Economy & Jobs 23-02-2017

Mélenchon and Hamon unable to overcome differences on Europe

Discussions on a possible coalition between the two left-wing candidates for France’s presidential election appear to have broken down. Their fundamentally different views on the future of Europe make any partnership unworkable. EURACTIV France reports.
Economy & Jobs 23-02-2017

Brussels tells Italy to reduce fiscal gap or risk being fined

The European Commission warned Italy on Wednesday (22 February) it risked disciplinary action if it did not adopt promised measures to cut its deficit, adding to pressure on a government facing possible early elections and rising euro-sceptic sentiment.
Economy & Jobs 22-02-2017

EU to say French economy out of balance, Germany surplus too high

The European Commission will tell France on Wednesday (22 February) its economy is improving but still has excessive imbalances, while chiding Germany over its current account surplus and warning Italy it must reduce its rising public debt, an EU official said.
Elections 26-01-2017

French presidential hopeful says EU’s ‘3% public deficit dogma must end’

During a TV debate yesterday evening (25 January), both contenders for the Socialist ticket in the French Presidential election said they would loosen the country’s purse strings, with Benoît Hamon going a step further by promising to end the EU's “3% deficit dogma”. EURACTIV France reports.
Security 12-12-2016

Euro Bombs: European Investment Bank to be turned into arms bank?

The EU consistently fails to make crucial public investments in infrastructure, education or healthcare, but seems to have no problem finding the money for military upgrades, writes Fabio de Masi.