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Over the past 20 years the Stability and Growth Pact (SGP) has been one of the most contentious pillars of the monetary union. When he was president of the European Commission, in 2002 Romano Prodi even declared “I know very well that the stability pact is stupid, like all decisions which are rigid.” Since then, . ....
Hopes of EU fiscal reform on the rocks after pushback from eight EU capitals politico.eu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from politico.eu Daily Mail and Mail on Sunday newspapers.
EU likely to waive borrowing limits again in 2022 euractiv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euractiv.com Daily Mail and Mail on Sunday newspapers.
3 Min Read BRUSSELS, Feb 26 (Reuters) - 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. The European Commission will set the criteria on March 3 for a recommendation later in the year on whether the bloc’s fiscal rules should be reinstated in 2022 or stay suspended. Both options remain possible. But European Economic Commissioner Paolo Gentiloni told a European Fiscal Board conference on Friday that, in terms of fiscal support under current conditions, “the risks of doing too little outweigh the risks of doing too much.” ....
4 Min Read BRUSSELS (Reuters) - The euro zone is likely to decide between March and May when and how governments would start tapering support to their economies as vaccination campaigns allow the lifting of pandemic lockdowns and economic activity picks up, top euro zone officials said on Monday. FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels, Belgium August 21, 2020. REUTERS/Yves Herman/File Photo/File Photo Finance ministers of the 19 countries sharing the euro discussed the European Commission’s forecasts showing the euro zone would rebound less than expected this year, and they decided to keep all measures intact for now. ....