fiscalreform
New EU fiscal rules entered into force on 30 April – but what are the next steps? By 21 June, the Commission will provide technical guidance to member states. It will also decide whether to launch its corrective instrument, the excessive deficit procedure (EDP), for each country. So far, only Romania has an ongoing EDP, but more member states could soon follow. Even those that have seen an increase in public spending driven by a surge in defence investments, although this will be a relevant factor to be taken into account when deciding whether to open an EDP. Following the Commission's technic...
Euronews (English)
MEPs today (23 April) formally approved new fiscal rules for the EU, brushing aside opposition from trade unions and civil society organisations who fear a return to the austerity era of reduced public spending. The revision was approved 359-166 with 61 abstentions, after several years in which strict Brussels budget controls were largely abandoned due to the pandemic. "This reform constitutes a fresh start and a return to fiscal responsibility at the same time,” Markus Ferber (Germany/European People’s Party), one of the MEPs who led work on the new laws, said ahead of the vote, adding that t...
Euronews (English)
Ukrainians are fighting tooth and nail against Russian aggression, recognizing the urgent need for a sustainable economy that can withstand the challenges of “perpetual war”. Vladimir Putin, exploiting the West’s reluctance to bear escalating costs, is sticking to the strategy of wearing down democratic nations by increasing the financial toll of the war and signalling the costs will remain high for “as long as it takes.” Backed by China, Iran, and North Korea, Putin’s sustained aggression raises two crucial questions: can Ukraine bolster its economy under these conditions? And does Ukraine of...
Euronews (English)
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