Bulgaria faces EU deficit procedure months after joining euro
The country's deficit reached 3.5 per cent of gross domestic product (GDP) last year, above the 3 per cent ceiling set for euro members.
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Stability and Growth Pact
Popular articles tagged "Stability and Growth Pact"
German Economic Council slashes growth forecast and warns of soaring social insurance costs
The downgrade is attributed primarily to the economic fallout from the Iran conflict, including sharply higher energy prices.
Poland’s budget deficit continues to rocket, now second-highest in EU
Poland has recorded the European Union’s second-largest budget deficit when compared with the size of its economy, raising fresh concerns over the country’s…
ECB U-turn: Defence spending ‘now good for growth’
Defence spending can help growth if done correctly, according to the European Central Bank (ECB).
EU opens deficit procedure against ‘defiant child’ Austria
The European Union said it would start a deficit procedure against Austria as the country has been unable to credibly reduce its burgeoning budget shortfall on its…
Defeated Simion may be back if new coalition fails to grasp gargantuan deficit
The Brussels elite breathed a sigh of relief last month when Bucharest mayor Nicușor Dan defeated conservative populist George Simion to become Romania’s new…
12 EU states request deficit rules leniency as euro bloc’s economy growth tops expectations
Twelve European Union countries have requested activation of the "national escape clause" from EU deficit rules in order to boost their defence spending, the European…
‘Increased defence spending couldn’t come at worse time,’ says ING think-tank
ING Economics, the think-tank of international lender ING Bank, has warned that the planned €800 billion spending spree on defence announced by the European Commission…
EC launches Excessive Deficit Procedure against seven Member States
Seven European Union Member States are under special scrutiny for accumulating increased public debt and deficits.
EC set to target Poland over excessive debt, Warsaw warns
The Polish finance ministry said it expected the European Commission to initiate a so-called excessive deficit procedure (EDP) against the country.
EU looks to take pressure off Member States over debt
European Union Member States and MEPs have struck a preliminary deal to ease the bloc's stringent fiscal rules, giving governments more time to reduce debt and incentives…
EU strikes fiscal rules deal with gradual path to cut debt
European Union finance chiefs ended months of wrangling over fiscal rigour to agree on new rules that will aim to rein in debt and define the bloc’s ability to…
Just seven Member States meet EU budget rules
Only seven of the European Union's 27 Member States have budgets that meet the bloc's financial probity guidelines, according to the European Commission.
Stagnant growth and high debt leave Italy’s Meloni few economic tools
Italy has recorded no GDP growth for the third quarter.
Italy battles for flexible EU budget rules as bond spreads widen
Italy is lobbying its European Union partners with increasing urgency to approve more flexible budget rules, according to government sources, as bond spreads widen…
European Commission urges Germany not to dig in on stricter EU debt rules
European Economy Commissioner Paolo Gentiloni urged governments to set aside rigid positions on the reform of the bloc’s debt rules and seek common ground as the…