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.
Under a Liberal-led finance ministry, Germany will take a hard line on EU fiscal policy and reject calls from southern EU countries to relax fiscal rules. However, the business-friendly FDP is open to compromise. EURACTIV Germany reports.
France will be able to reach a compromise with the new German government to update the European Union's fiscal rules to face economic challenges following the COVID-19 pandemic, French Finance Minister Bruno Le Maire said on Monday (29 November).
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.
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.
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”.
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.
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.
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.
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.
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).
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.
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.
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'.
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.
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.
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).
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).