The time has come and the European Commission gave to Germany in writing, what has been so far aired orally. In this respect, Brussels tells Berlin that it is legally obliged to abandon its egotistic austere and protective policies and help itself and the entire Eurozone enter again in a sustainable growth path. Let’s take […]
The Commission tells Berlin it is legally obliged to help Eurozone out of stagnation
EU economic governance: More exploitation for the weaker countries
Last Tuesday 15 October was the last day the 28 EU member states, and more so the 18 Eurozone countries, had to submit to the Commission for approval their draft budgets for 2014. It is the first time that the European Union member states and more particularly the euro area countries, before presenting their state […]
‘Two pack’ austerity package in force but with less vigor
The ‘Two-Pack‘, an EU regulation package for Eurozone’s austere fiscal reform enters into force on 30th May 2013 in all euro area Member States. The new strict fiscal rules for euro area countries proved necessary, after the Stability and Growth Pact (SGP), failed to refrain budget deficits and public debt below 3% and 60% of […]
The EU Parliament slams Commission on economic governance
European Commission vice President, Ollie Rehn, responsible for Economic and Monetary Affairs and the Euro, delivered a speech in the European Parliament on the “Social pillar of the European Monetary Union-EMU”, which was very ill-received by the legislators. The Parliamentarians yesterday went as far as to comment bitterly in a resolution they issued afterwards, saying […]
“Two Pack” approved: Is democracy chased away from Brussels?
Yesterday, the Presidency of the European Council came out triumphantly announcing an agreement with the European Parliament, over the so called ‘Two Pack’ Commission’s proposal, to ‘improve’ budgetary and economic coordination among Eurozone countries. The Irish minister of Finance, Michael Noonan, president of the ECOFIN Council, said he achieved that on behalf of EU member […]