Belgium, France, Hungary, Italy, Malta, Poland and Slovakia have been warned about their excessive budget deficits and instructed by the European Commission to reduce their public spending in line with EU rules.
France is proposing that Europe should issue common debt again. In other news, Slovenia is reluctant on the question of whether the EU should deprive Hungary of its voting rights under Article 7 of the EU Treaty. Romanian MEP Daniel Buda calls for more subsidies to support farmers across Europe.
Member states reach an agreement on renewable energy consumption targets. EU finance ministers call for tough reform of EU rules on reducing government debt. European Commission President Ursula von der Leyen wraps up her tour of Latin America.
The EU’s debt rules are to be reformed to give member countries more fiscal leeway to modernise their economies. While some believe this will boost investments and kickstart growth, others, with Germany at the forefront, fear that a loose fiscal policy will only increase the deficits and debts of highly indebted member states.
Finance politicians from the German Green Party push for rapid reform of the EU’s fiscal rules on government deficits and debts. European Commissioner for the Internal Market Thierry Breton visits a Bulgarian military-industrial complex in the context of Ukraine’s growing ammunition needs. The Slovak Republic increases its military representation to NATO and EU bodies.