The European Commission concedes its been pointing a little too hard at the piggy bank lately
Published:
27 June 2004 y., Sunday
It's been a constant source of bickering between France, Germany and the European Commission. Now in times of slow economic growth, the EU executive is calling for a looser interpretation of the Stability Pact .
European Union countries that have been violating the Stability and Growth Pact in an atmosphere of weak economic growth may soon be able to breathe a sigh of relief.
At its regular meeting on Thursday, the European Commission recommended that a country's economic situation should be taken into account when applying the pact, which secures the stability of Europe's common currency, the euro.
"The experience of the last five years has shown that -- in certain cases at least -- the rules have perhaps been too stringent and have reduced our room for maneuver," Economic and Monetary Affairs Commissioner Joaquin Alumnia said. "That is why it is probably necessary to clarify certain definitions of the rules on the excessive deficit procedure -- we have to introduce some flexibility."
Šaltinis:
dw-world.de
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
During the meeting, which took place on 3 September 2009 the Bank of Lithuania approved the transaction, according to which AB Bank SNORAS will acquire 100 percent of the shares of AB “Finasta įmonių finansai” owning AB bank “Finasta”.
more »
The European Commission tabled yesterday its proposal on fishing possibilities for fish stocks in the Baltic Sea for 2010.
more »
Members of the Civil Liberties Committee voiced concern on Thursday over the interim agreement under negotiation between the EU and the United States on data transfers via the SWIFT network.
more »
Consumers in Cyprus, the Czech Republic, Hungary, Poland, Romania and Slovenia now have access to consumer magazines and websites, which provide independent, comparative testing of consumer products, following a three-year EU project co-financed by the European Commission.
more »
Funds management company “SNORAS Asset Management” will establish the first alternative investment fund in Lithuania - “SAM Renewable Energy Fund”.
more »
The re-launched Lisbon Partnership for growth and jobs has put innovation and entrepreneurship at the centre and called for decisive and more coherent action by the Community and the Member States in view of mastering the shift towards knowledge based low carbon economy.
more »
Helping dairy farmers now, as well as restructuring the dairy sector in the long run, is the way out of the current milk market crisis, Agriculture Committee MEPs told Agriculture Commissioner Mariann Fischer Boel in a debate on Tuesday.
more »
The EU is phasing out traditional light bulbs over the next three years in favour of a new generation of energy-efficient lighting.
more »
Lithuania increases the VAT rate from 19 % to 21 % from September 1, 2009.
more »
Two recent joint missions from three development finance institutions helped Thailand identify low carbon projects that could be eligible for Clean Technology Fund financing.
more »