Of Tasos Dasopoulos The definitive end of the hard fiscal line advocated by the northern countries, and reflected in the current stability pact, brings, among other things, the burgeoning energy crisis which is expected to reach its peak in the coming months. For now, the world is watching on the one hand the leading power […]
Tag: Stability Pact
Paolo Gentiloni: After the summer the new Stability Pact
EU Economic Affairs Commissioner Paolo Gentiloni is aiming to unveil a new post-summer stability pact for the eurozone, adding that the new rules are likely to set country-by-country debt targets, according to Reuters. Speaking at an event in Italy, Gentiloni said the commission wanted to make lending limits “less vague and strict”. Gentiloni also stressed […]
Dobrovskis: The maintenance of the general stability clause of the Stability Pact in 2023 covers all EU countries
“The maintenance in 2023 of the general escape clause of the Stability and Growth Pact, proposed by the Commission, covers all EU countries”, explained today the Vice President of the Committee on Economy, Vladis Dobrovskis. W. Dobrowski stressed that the general escape clause does not suspend EU fiscal rules, nor the Stability and Growth Pact. […]
Politico: Commission plans to keep debt rule on ice in 2023
The European Commission plans to keep the debt rule afloat next year, when the EU fiscal framework is supposed to be reactivated, according to a draft in the possession of Politico. The regulation, if it remains as it is, will offer great relief to France, Italy, Spain and Greece, which are among the EU countries […]
Spain wants EU member states to set their own budgetary targets
Spanish Economy Minister Nadia Calvino on Monday suggested that each member state of the European Union set its own fiscal targets in the future instead of being subject to the targets imposed by the bloc’s fiscal rules. “In the future, member states must have the first say in setting their own fiscal targets,” Calvino told […]
IOBE: Forecasts growth of 9 – 9.5% in 2021 and 4.5 – 5% in 2022
LAST UPDATE: 14.59 By Tasos Dasopoulos Strong growth that will reach 9 – 9.5% for 2021 and 4.5% – 5% in 2022 is forecast by IOBE, but expressing concern for maintaining high deficits and increasing government borrowing costs. In its report for the 4th quarter of 2021, IOBE predicts that the economy will cover the […]
Ol. Solz: It is still ‘too early’ to review fiscal rules in the EU
German Chancellor Olaf Solz has given no indication to Spanish Prime Minister Pedro Sanchez that his three-party government is ready to support the easing of EU fiscal rules, although the two leaders agreed today to work closely to implement European policies. Sanchez had high expectations of Soltz’s visit to Madrid today, with some sources saying […]
Germany: EU must extend temporary suspension of Stability Pact
The European Union must extend the temporary lifting of the Stability Pact, which sets limits on public deficits and debt, according to Anton Hofreiter, chairman of the Greens’ European Affairs Committee in the Bundestag. “We are really in a special crisis and we do not know how long it will last,” he said. To avoid […]
G. Gerapetritis: The State has subsidized, directly and indirectly, the cost of energy with about 1.75 billion euros
“We are proceeding with prudence and consistency to overthrow pathologies of decades and to build a modern Greece”, underlines in an interview with the newspaper “Naftemporiki”, the Minister of State George Gerapetritis, while in a question about the stakes of the next election: “Let us ask the Greek people for a clear governance solution that […]
Lemmer calls EU rules on Member States’ public debt “obsolete”
French Economy and Finance Minister Bruno Lemerre on Sunday described the rules on public debt of European Union member states as “outdated”. The Stability and Growth Pact (SGP) “is not obsolete in its entirety, but the rule for public debt is,” he said in an interview a few weeks after France took over the rotating […]