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June 2015
Stability and Growth Pact

33 posts
"Everything is at stake" NEW
Open Europe blog 4 Years, 7 Months, 2 Weeks, 1 Day, 4 Hours, 16 Minutes ago
Chancellor Angela Merkel has been speaking at her party's congress and, given the events in Ireland, the euro was a key theme of her speech.It's fairly stirring stuff:"Everything is at stake -- if the euro fails, then Europe will fail. The idea of Eu...
Eurozone policy-makers are playing with fire NEW
Centre for European Reform 4 Years, 7 Months, 2 Weeks, 1 Day, 4 Hours, 40 Minutes ago
By Simon TilfordThere is an awful inevitability about the latest instalment of the eurozone crisis, which looks highly likely to culminate in Ireland being forced to seek a bailout from the European Financial Stability Fund (EFSF). As soon as German...
Greece criticised for 'systematic' cheating NEW
Common Agricultural Policy 4 Years, 7 Months, 2 Weeks, 1 Day, 7 Hours, 11 Minutes ago
The EU Court of Auditors has criticised Greece for 'systematic' cheating. Athens was criticised for overpaying farmers by €866m (£747m) over several years, including submitting false claims for pasture land subsidies when aerial photographs 'clea...
Das ist keine Antwort auf die Krise! NEW
Le Taurillon 4 Years, 7 Months, 3 Weeks, 6 Days, 16 Hours, 42 Minutes ago
Am 29. Oktober einigten sich die Regierungschefs und Finanzminister auf Ihre Version einer europäischen Wirtschaftsregierung und weichen damit von den Kommissionsvorschlägen ab. Jetzt kommt es auf das Europaparlament an. - Wirtschaft und Soziales...
ECB’s Trichet on economic governance in EMU NEW
Grahnlaw 5 Years, 6 Days, 8 Hours, 59 Minutes ago
The EU heads of state or government have stowed away the discussions about improving European Union and eurozone economic governance into the finance minister task force chaired by Herman Van Rompuy. The task force is expected to report in October. F...
Van Rompuy’s dilemma NEW
Grahnlaw 5 Years, 6 Days, 11 Hours, 45 Minutes ago
How often are the ones who caused the problems the right bunch to solve them? The European Council on 17 June 2010 drew some preliminary conclusions regarding fiscal consolidation and economic governance (document EUCO 13/10). In principle, the head...
Olli Rehn on improving EU and eurozone economic policy coordination NEW
Grahnlaw 5 Years, 1 Week, 1 Day, 11 Hours, 12 Minutes ago
Olli Rehn, the commissioner for economic and monetary policy, outlined the reform steps the European Union needs, in a speech in Brussels 22 June 2010 (SPEECH/10/329): Beyond consolidation, we need to act in two further areas: economic governance and...
Excessive deficit procedure: Finland NEW
Grahnlaw 5 Years, 1 Week, 5 Days, 9 Hours, 43 Minutes ago
The previous blog post, Excessive deficit procedure: Denmark, looked at the relevant summaries of EU legislation and found that they need to be updated. We check if the Directorate-General for Economic and Financial Affairs (DG ECFIN) offers updated...
Excessive deficit procedure: Denmark NEW
Grahnlaw 5 Years, 1 Week, 5 Days, 12 Hours, 56 Minutes ago
Are you looking for materials on how budget monitoring works in the European Union, and what happens if the deficit of a member state balloons? Are you interested in the excessive deficit procedure (EDP), or the budgetary position of Denmark? Summari...
La réflexion du groupe de travail sur la coordination de la politique économique européenne prend forme NEW
Regards citoyens 5 Years, 2 Weeks, 1 Day, 6 Hours, 54 Minutes ago
La réflexion du groupe de travail sur la coordination de la politique économique européenne prend forme. " Nous avons été capables de traduire les engagements de la première réunion en propositions plus concrètes sur deux sujets principau...
Union européenne : Rapport 2010 sur les finances publiques: la crise de la dette souveraine met en évidence la nécessité d'un assainissement budgétaire et d'une surveillance accrue NEW
Regards citoyens 5 Years, 2 Weeks, 1 Day, 8 Hours, 21 Minutes ago
L'actualité du printemps 2010 a mis en lumière la nécessité de résoudre de toute urgence le problème budgétaire dans la zone euro et dans l'UE. Les primes de risque souverain ont atteint des niveaux inégalés dans les États membres jugé...
Du sang, de la sueur et des larmes pour la zone Euro NEW
Euros du Village 5 Years, 2 Weeks, 1 Day, 10 Hours, 12 Minutes ago
Interviewé par le FT du 14 juin, Herman Van Rompuy développe sa propre analyse des problèmes de l'euro. Pour le président du Conseil européen, l'existence d'un euro fort a occulté les problèmes budgétaires des Etats membres, jouant ainsi un r...
EU Commission on stability programme Cyprus NEW
Grahnlaw 5 Years, 2 Weeks, 5 Days, 9 Hours, 17 Minutes ago
The blog post EU: Updated stability programme Cyprus looked at the economic projections and reform plans of the island state in its own right, but also as an example of the dialogue on economic policy coordination between the European Union and the m...
EMU: Format and content of stability and convergence programmes NEW
Grahnlaw 5 Years, 3 Weeks, 3 Hours, 30 Minutes ago
Improved economic governance, or even economic government, is a hot topic in the European Union. In order to assess various suggestions (and refusals) it is useful to look at the current rules on multilateral budget surveillance in the framework of t...
EMU: Implementing the Stability and Growth Pact (SGP) NEW
Grahnlaw 5 Years, 3 Weeks, 8 Hours, 41 Minutes ago
The Specifications on the implementation of the Stability and Growth Pact and Guidelines on the format and content of Stability and Convergence Programmes, the so called Code of Conduct (21 pages), were endorsed by the Ecofin Council 10 November 2009...
EU: Stability programme France NEW
Grahnlaw 5 Years, 4 Weeks, 12 Hours, 30 Minutes ago
France has traditionally called for strong eurozone governance or even government, but good practices start at home. Have they? The latest EU Council opinion on the French stability programme spells out the need for corrective action. For some back...
EU: Convergence programme Estonia NEW
Grahnlaw 5 Years, 4 Weeks, 14 Hours, 19 Minutes ago
Despite a deep recession, Estonia is preparing for the euro changeover in 2011. The European Union offers a snapshot of the Estonian economy. For some background remarks on economic policy coordination, you can read the blog post EU: Useful stabilit...
EU: Useful stability and convergence programmes? NEW
Grahnlaw 5 Years, 4 Weeks, 15 Hours, 6 Minutes ago
In the wake of the financial and economic crisis, how should the economies of the EU member states be launched on a growth and reform path? Where are the structural weaknesses and sudden pitfalls? How should the governments return to budget disciplin...
EMU: Stability programme Finland NEW
Grahnlaw 5 Years, 4 Weeks, 1 Day, 11 Hours, 26 Minutes ago
The latest round of EU Council opinions is the basis for measures in the member states to return from the financial and economic crisis towards fiscal discipline in line with the Stability and Growth Pact. The procedure and the conclusions illustrate...
EMU: Convergence programme Denmark NEW
Grahnlaw 5 Years, 4 Weeks, 1 Day, 13 Hours, 10 Minutes ago
What if we should look less to the daily fluctuation of market sentiments and more to the mundane coordination of economic policy between the European Union and the member states?The Council Opinion on the convergence programme of Denmark has been pu...
Tracking eurozone crisis measures: Barbarians at the gate NEW
Grahnlaw 5 Years, 1 Month, 2 Days, 3 Hours, 27 Minutes ago
Despite the decisions taken with regard to Greece, the battering rams of the markets were pounding the gates of the eurozone castle and sappers were undermining the walls of confidence. Business as usual was no longer an option for the second largest...
Eurozone: Budget consolidation in Austria NEW
Grahnlaw 5 Years, 1 Month, 5 Days, 5 Hours, 29 Minutes ago
On 26 April 2010 the Council examined the updated stability programme of Austria, which covers the period 2009 to 2013: COUNCIL OPINION on the updated stability programme of Austria, 2009-2013; OJEU 27.5.2010 C 137/7. The Opinion describes the effe...
EMU: Publishing decisions on excessive deficits NEW
Grahnlaw 5 Years, 1 Month, 1 Week, 4 Days, 3 Hours, 28 Minutes ago
Due to the eurozone crisis, we have checked how little of the decisions and positions have been reflected centrally on Eur-Lex, the legal portal: in the Official Journal of the European Union (OJEU) or under preparatory acts (COM and SEC documents).
Quelle réforme pour le Pacte de stabilité ? NEW
Telos 5 Years, 1 Month, 1 Week, 6 Days, 3 Hours, 50 Minutes ago
L’accord conclu il y a dix jours à Bruxelles semble avoir été accueilli favorablement par les marchés. Malheureusement, il est trop tôt pour conclure que ce fut un succès. L’histoire monétaire jugera si ce fut une brillante initiative des...
ECOFIN’s euro rescue NEW
Grahnlaw 5 Years, 1 Month, 2 Weeks, 2 Days, 23 Hours, 42 Minutes ago
The statement by the heads of state or government of the euro area 25 March 2010 evoked the shared responsibility of all euro area members for the economic and financial stability in the eurozone. The leaders were willing to take determined and coord...
Nach Schema G NEW
Le Taurillon 5 Years, 1 Month, 2 Weeks, 3 Days, 4 Hours, 43 Minutes ago
Der fleißige Deutsche muss für den faulen Griechen den Kopf hinhalten. Das ist der Tenor in den deutschen Medien. Treffpunkt Europa hat sich auf den Internetseiten der großen Zeitungen umgeschaut. Das Ergebnis: Nationalistische Stimmungsmache, Irr...
A Stupid Question: Will the Eurozone Really Break Up? NEW
European Union Law 5 Years, 1 Month, 2 Weeks, 3 Days, 19 Hours, 29 Minutes ago
Yes, many will argue that’s a stupid question. Yes, leaving the eurozone will be very costly for any party involved. But I begin to wonder. There’s the rumour that French President Nichlas Sarkozy threatened to pull France out of the euro if...
What A Difference A Day Made! NEW
A Fistful of Euros 5 Years, 2 Months, 14 Hours, 12 Minutes ago
According to a once famous statement by the British Prime Minister Harold Wilson, a week is often a long time in politics. But when it comes to financial market crises we seem to follow a pattern more reminiscent of a line from the Dinah Washington...
EU possesses the legal power to rescue Greece if necessary NEW
Brussels Blog (Financial Times) 5 Years, 5 Months, 4 Days, 8 Hours, 33 Minutes ago
There is a need to clear up some misconceptions about how Greece, or some other fiscal miscreant in the 16-nation eurozone, would be rescued by its partners in the event that it was unable to refinance its debts. Quite a few commentators seem to thin...
The EU Is Reportedly Exploring Making a Loan To Greece NEW
A Fistful of Euros 5 Years, 5 Months, 1 Week, 2 Days, 8 Hours, 5 Minutes ago
Pressure on Greek finances continues unabated. According to European Voice this morning the EU Commission and Finance Ministers remain most reluctant to call in the IMF (which I think would be the best solution) but they are themselves actively comte...
After Wearing The Hair Shirt For Over Two Years Hungary Is Now Helped Into The Straight Jacket NEW
A Fistful of Euros 6 Years, 8 Months, 1 Day, 18 Hours, 15 Minutes ago
Well we now have some of the details of the IMF package for Hungary, and interesting reading it makes. Hungary has in effect secured a 20 billion-euro ($25.5 billion) loan which is going to be sourced by three institutions: the IMF, the EU and the Wo...
La BCE fête ses dix ans NEW
Coulisses de Bruxelles (Libération) 7 Years, 4 Weeks, 1 Day, 5 Hours, 40 Minutes ago
Aujourd'hui, la Banque centrale européenne fête ses dix ans d'existence. Pour marquer le coup, Libération publie aujourd'hui un "instantané" -que j'ai écrit avec Grégoire Biseau, le chef du service économie-, c'est-à-dire une double...
Déficit: Paris tancé par Bruxelles NEW
Coulisses de Bruxelles (Libération) 7 Years, 1 Month, 2 Days, 19 Hours, 12 Minutes ago
La France va fêter de la pire manière qui soit, le dixième anniversaire de l’euro : en 2009, elle sera en effet le seul pays de la zone euro dont le déficit public va atteindre voire crever le plafond de...