| Author (Corporate) | Euro|Topics |
|---|---|
| Publisher | Euro|Topics |
| Series Title | Main Focus |
| Series Details | 07.10.14 |
| Publication Date | 07/10/2014 |
| Content Type | News, Overview |
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According to the Main Focus of Euro|Topics on the 6 October 2014 the European Commission was threatening to reject France's and Italy's 2015 budget plans on the grounds that they violated the EU's Stability Pact. After imposing stringent austerity on other member states the Commission could not be seen to be lax with these two now, commentators in various articles in European newspapers pointed out. They warned Paris and Rome of the consequences of violating international obligations. Further sources (see 'related url hyperlinks) discuss the tensions within the eurozone countries as to the appropriate economic strategy to help the eurozone out of recession, focusing on the challenges facing France and Italy as they submitted their 2015 budgetary plans to the European Commission, in the context of calls by Germany for further radical structural reforms. To ensure the coordination of fiscal policies among EU Member States sharing the euro as their currency and because economic policy is recognised by the EU Treaty as 'a matter of common concern', eurozone governments werer required by European economic governance rules to submit their draft budgetary plans for the following year to the European Commission by 15 October each year. |
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| Source Link | Link to Main Source http://www.eurotopics.net/en/home/presseschau/archiv/archiv_dossier/DOSSIER151543-Paris-and-Rome-facing-yellow-card-from-Brussels |
| Related Links |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe, France, Italy |
