The seven-point recipe to improve EU’s messy fiscal rules

By |september 12th, 2019|European Fiscal Board, Eurozone, News, stability and growth pact|

The European Fiscal Board has recommended major reform of the Stability and Growth Pact in order to simplify the EU’s spending rules and favour productive investment in the era of low-interest rates.

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Europeans tell Germany to spend more to boost euro economy

By |julij 8th, 2019|Eurogroup, European Fiscal Board, fiscal stance, Germany, News|

European ministers and institutions told Germany on Monday (8 July) to increase public spending in order to support the ailing growth in the eurozone, as decision-makers and investors see a growing risk of recession looming on the horizon.

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EU fiscal board insists on stabilization mechanism

By |junij 26th, 2019|European Fiscal Board, European Investment and Stabilisation Function, Eurozone, eurozone budget, News, stabilisation mechanism|

Any systemic shock will not affect just some countries but the whole euro area so if member states want to counter it adequately, they need to have a central fiscal capacity, European Fiscal Board (EFB) president Niels Thygesen told reporters on Tuesday (25 June). 

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Eurozone faces critical budget issue as Italy defies the rules

By |oktober 16th, 2018|European Fiscal Board, Greek crisis, Italian budget, national budget, News, Spain, two-pack|

For the first time since post-crisis rules entered into force, all eurozone countries are to submit their draft budget plans to the European Commission, but the Commission could also make an unprecedented move itself: sending one of budgets back to where it came from, most likely, Rome. 

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EU Fiscal Board blames Commission for ineffective recommendations

By |oktober 11th, 2018|European Fiscal Board, fiscal rules, News, Niels Thygesen, stability and growth pact|

The European Fiscal Board complained on Wednesday (10 October) that member states had failed to use strong economic growth to reduce their public debt, and called for a major change of EU fiscal rules to ensure better enforcement by the European Commis...

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Commission’s ‘stabilisation function’ very modest, says eurozone fiscal sheriff

By |junij 18th, 2018|European Fiscal Board, european investment stabilisation function, News, Niels Thygesen, stability and growth pact|

The European Fiscal Board has discredited the Commission’s proposed fund to protect investment as “very modest”, “narrow” and not well designed, its chair Niels Thygesen said on Monday (18 June).

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European Fiscal Board calls for simple but tougher rules

By |november 16th, 2017|European Fiscal Board, European unemployment insurance scheme, eurozone budget, fiscal capacity, News, Niels Thygesen, stability and growth pact|

The European Fiscal Board, the EU's finance watchdog, wants clearer rules and real sanctions to punish profligate member states and limit the European Commission’s discretion to interpret the Stability and Growth Pact.

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European fiscal board chief: ‘Stop talking about recovery, we are approaching normality’

By |julij 17th, 2017|European Fiscal Board, fiscal stance, News, Niels Thygesen, SGP, stability and growth pact|

Arguably, the EU’s economic governance framework is one of the most divisive issues among member states and top priority in Europe’s to-do list of outstanding reforms. Niels Thygesen does not shy away from this challenge. After questioning European Commission fiscal stance for this year recommendation, he proposed a return to a more ‘prudent’ orientation for 2018. In October, he will address one of the hottest topics: whether the application of the Stability and Growth Pact (SGP) unfairly favoured countries like France.

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