About: stability and growth pact

Economy & Jobs 24-03-2020

EU countries warn of ‘severe economic downturn’, suspend Stability Pact

EU member states took the unprecedented decision to suspend the Stability and Growth Pact obligations on Monday (23 March), in order to allow billions of euros in extra spending to mitigate the "severe economic downturn" caused by the coronavirus.
Economy & Jobs 20-03-2020

Commission proposes unprecedented suspension of EU’s fiscal rules 

The European Commission proposed for the first time on Friday (20 March) the activation of the general escape clause that would ‘pause’ the adjustments member states have to do to meet their fiscal targets and allow them to spend "as much as they need".
Economy & Jobs 13-03-2020

Coronavirus ‘very likely’ to push Europe into recession, Commission warns

The European Commission said on Friday (13 March) that the coronavirus COVID-19 will “very likely” push the European economy into recession this year, and warned that the rebound next year will depend on a bold response from member states.
Coronavirus 11-03-2020

Merkel: Germany well-equipped against COVID-19

German Chancellor Angela Merkel made her first public statement about the coronavirus epidemic on Wednesday (11 March), saying that financial reserves and good emergency mechanisms make Germany well-prepared. "We will do what is necessary," she added. EURACTIV Germany reports.
Coronavirus 11-03-2020

EU pledges €25 billion to weather coronavirus impact

EU institutions and member states agreed on Tuesday (10 March) to ease EU spending rules and mobilise at least €25 billion of EU funds to address the economic fallout from the coronavirus.
Economy & Jobs 04-03-2020

EU finance ministers hold fire on combating coronavirus

EU finance ministers promised on Wednesday (4 March) a coordinated response to address the economic impact of coronavirus but postponed any decision at least until their formal meeting in mid-March.
Economy & Jobs 06-02-2020

This is how Europe is opening the floodgates to ‘green’ money

The European Commission launched on Wednesday (6 February) a consultation with member states, the European Parliament and other stakeholders to review the EU's fiscal rules, the Stability and Growth Pact.
Economic governance 22-01-2020

IMF calls for ‘more automatism’ in public spending

As monetary policy nears its limits to lift the world's sluggish economy, the International Monetary Fund told governments on Tuesday (21 January) to introduce "more automatism" in their fiscal rules in order to counter the economic slowdown.
Economy & Jobs 18-12-2019

Brussels lowers expectations about ‘green’ overhaul of Stability and Growth Pact

The European Commission is cautious about loosening EU fiscal rules in order to incentivise ‘green’ investment by member states. Valdis Dombrovskis, the Commission Vice-President for the economy, said on Tuesday (17 December) he wants to avoid “divisive” issues.
Economic governance 21-11-2019

EU concerned over France, Italy and Spain debts

Reduction of public debt should be the main priority for France, Italy, and Spain, which have "failed to put their finances in order" during the economic upswing of recent years, the European Commission warned on Wednesday (20 November) at the presentation of the autumn fiscal package.
Economic governance 22-10-2019

Commission tells member states to adjust their economies further

The European Commission is putting the final touches to a number of letters to various national governments that are at risk of missing their fiscal targets for 2020. Brussels wants more information on how they intend to to balance their public finances.
Economy & Jobs 04-10-2019

Gentiloni wins broad approval with ‘ambitious’ EU economic and social agenda

Paolo Gentiloni won the European Parliament's approval on Thursday (3 October) to become EU Commissioner for the Economy, with ambitious plans to unblock tax proposals and to design the European unemployment reinsurance  scheme.
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.
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.

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