EU rebukes seven member states over excessive deficits
After the European Commission recommended to begin procedures concerning government deficits that are too large, the Council of the European Union on Friday gave the green light.
European Commission takes action against seven EU countries for excessive debt
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.
Europe in brief: Gentiloni believes agreement on Stability and Growth Pact will be reached by the end of the year
For the European Commissioner for Economy, Paolo Gentiloni, there should be no further postponements on the reform of the Stability and Growth Pact. In other news: The city of Brussels is worried about security, as Belgium decided to no longer house single men seeking asylum. Also: Charles Michel insists on setting 2030 as the date for EU-Enlargement.
Another banking crisis? ECB confident about eurozone financial resilience
The recent collapse of the Silicon Valley Bank (SVB) in the United States and the crisis at Credit Suisse in Switzerland over the weekend set off concerns regarding contagion across the international financial sector. While European governments and financial institutions closely monitor the situation, it is not all bleak.