About: stability and growth pact

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.
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 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).
Economy & Jobs 27-05-2020

ECB warns virus response could renew fears of euro breakup

A vast fiscal fightback to the coronavirus crisis unleashed by eurozone governments could raise questions about capitals' ability to repay debts and revive the threat of countries exiting the single currency, the European Central Bank warned Tuesday (26 May).
Economy & Jobs 22-05-2020

France wants EU budget rules suspended through 2021

France on Thursday (21 May) called on the EU to suspend its strict budgetary rules for member states for this year and next due to the severe hit economies have taken during the coronavirus pandemic.
Economy & Jobs 20-05-2020

Commission warns against the risk of the COVID19 becoming a social crisis

The economic fallout of the coronavirus pandemic has hit the European economy hard, but not equally across all countries and sectors, and the fragmentation could lead to a social crisis, European Commissioner for Jobs and Social Rights Nicolas Schmit warned on Wednesday (20 May). 
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.