About: stability and growth pact

Economic governance 20-10-2021

Brussels relaunches EU fiscal reform, aims to boost green investments

The European Commission on Tuesday (19 October) took another step towards reforming the EU’s much-discussed fiscal rules, including the bloc's strict debt and deficit limits enshrined in the Stability and Growth Pact.
Economy & Jobs 19-10-2021

Life after COVID: EU re-thinks budget rules for new era

So often the source of rows between its members, the European Union starts reviewing its rules for national budgets to fit a post-pandemic reality of higher public debt and the huge costs of transitioning to a zero-emissions economy.
Climate change 18-10-2021

Fiscal reform and why it matters for climate

The EU's economic governance must drive climate action for a just transition, not austerity, writes Isabelle Brachet.
Economic governance 17-10-2021

Architect of EU fiscal rules calls for reform

Ahead of a new push by the European Commission to reform the EU's fiscal rules, the chief of the bloc's bailout fund, Klaus Regling pointed out the danger of sticking to rules that have become “economically nonsensical”.
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.
Elections 22-09-2021

Post-election Germany: back to austerity or fit for a fiscal union?

Germany is heading to the polls on Sunday (26 September) amid intense debate on the future of Europe's fiscal policy.
Economy & Jobs 17-09-2021

Bruegel’s Darvas: ‘We need much higher carbon prices in Europe’

In a paper discussed by EU finance ministers on 11 September, Bruegel think tank made the case for protecting green investment as part of the upcoming Stability and Growth Pact review. Bruegel’s Zsolt Darvas, one of the report's authors, told EURACTIV that most of the investment needed to reduce CO2 emissions would come from private sources.
Economic governance 10-09-2021

Commission hints at quick fix of fiscal rules in 2022

The European Commission said on Friday (10 September) that it will explore options to improve the Stability and Growth Pact by the end of next year, as member states are preparing for a bruising battle over the reform of the EU’s fiscal rules.
Economy & Jobs 10-09-2021

EU budget battle looms, as economy lifts out of crisis

European governments have spent hand over fist, despite ballooning public debt, to prevent the coronavirus pandemic from triggering economic calamity.
Climate change 06-09-2021

EU considers debt relief for countries hit by floods, wildfires

The emergency costs related to this summer’s floods and wildfires could be classified as “a one-off” expenditure and therefore excluded from the calculation of EU countries’ public deficits this year, the European Commission has said.
Economic governance 02-07-2021

Revamping fiscal rules requires a new understanding on debt sustainability

It is necessary to reform the European Union’s flawed macroeconomic architecture as the post-pandemic world demands a new fiscal rulebook to boost our economies, argues Margarida Marques.
Economy & Jobs 17-06-2021

Euro fiscal watchdog endorses suspension of Stability Pact in 2022

The European Fiscal Board supported on Wednesday (16 June) maintaining the suspension of the Stability and Growth Pact throughout next year but called for reinstalling a revised set of fiscal rules from 2023 to minimise risks.
Economy & Jobs 03-06-2021

Dombrovskis: ‘We are quite satisfied with the recovery plans submitted’

The EU’s framework to coordinate national economies this year has been shaped by the recovery and resilience plans. The Commission’s executive vice-president for economy, Valdis Dombrovskis, told a group of media including EURACTIV that overall, the EU executive is satisfied with the recovery plans submitted by 23 member states.
Economy & Jobs 05-03-2021

EU’s revised fiscal pact to consider ‘golden rule’ on investment

The European Commission will propose towards the end of the year how to simplify the European Union's complex budget rules, cut accumulated debt and boost investment, European Economic Commissioner Paolo Gentiloni said on Thursday (4 March).
Economic governance 03-03-2021

Commission wants to keep fiscal rules suspended in 2022

The European Commission said on Wednesday (3 March) that the Stability and Growth Pact should remain suspended next year as the European economy needs additional stimulus to return to the pre-crisis level.
Economy & Jobs 01-03-2021

EU likely to waive borrowing limits again in 2022

The European Union is likely to waive limits on government borrowing again in 2022, given persistent uncertainties about the pace of economic recovery once the coronavirus pandemic is contained, officials say.
Economy & Jobs 08-02-2021

ECB’s Lagarde says cancelling COVID debts ‘unthinkable’

European Central Bank (ECB) chief Christine Lagarde on Sunday (7 February) rejected calls to cancel debts run up by eurozone members to buttress their economies during the COVID-19 crisis.
Railways 29-01-2021

Rail sector posts multi-billion euro losses amid pandemic in 2020

European rail companies lost a staggering €26 billion in 2020 as the COVID-19 epidemic took a heavy toll on passenger and freight revenues across the continent, boding ill for 2021, designated to be the 'European year of rail'.
Economic governance 27-01-2021

EU’s Gentiloni calls for greater involvement of unions in recovery plans

The economic crisis caused by COVID-19 could turn into a “social crisis”, the EU's economic  affairs commissioner Paolo Gentiloni has warned, calling for greater involvement from trade unions in the elaboration of national recovery plans. 

Portuguese minister: Fiscal discipline suspension should continue due to second wave

Portugal's finance minister said on Monday (25 January) that the stimulus to the European economy must be maintained until the COVID-19 pandemic “loses momentum”.
Economy & Jobs 18-08-2020

Economy agenda: Recovery and taxation to dominate the EU’s priorities

The implementation of the EU’s recovery fund and taxation will dominate the second half of the year, as both issues will top the German presidency agenda, and new resources are needed to finance the stimulus package to respond to the coronavirus crisis.
Economy & Jobs 07-07-2020

Italy, Spain and France worst performers as recession deepens

Italy, Spain and France will register the worst economic downturn among eurozone countries this year as the contraction will be more severe than previously expected, according to the latest European Commission forecast published on Tuesday (7 July).
Economy & Jobs 02-07-2020

EU fiscal watchdog wants to scrap ‘unrealistic’ 60% debt limit

The European Fiscal Board on Tuesday (1 July) recommended to get rid of the EU's debt threshold of 60% of GDP and instead adopt realistic debt targets specific to the bloc's national economies.
Economy & Jobs 16-06-2020

Berlin to borrow €218.5bn to fund virus stimulus

The German government plans to take on €218.5 billion in new debt this year to pay for massive stimulus to help the country recover from the coronavirus impact, finance ministry sources said Monday (15 June).