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Deficit

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EU formally opens deficit proceedings against eight member states

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French government overshoots deficit target: How will it source funds?

Public accounts showed a fiscal shortfall of 5.5% of economic output last year, up from 4.8% the previous year - and significantly more than the government's target of 4.9%.

26/03/2024

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Italy’s GDP inches higher but deficit comes in far worse than forecast

Italy records marginally positive GDP results yet its deficit for 2023 drastically overshoots expectations.

01/03/2024

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Czech lower house approves plan to rein in swelling deficit

The Czech parliament’s lower house has approved dozens of measures proposed by the government designed to keep the ballooning budget deficit under control.

13/10/2023

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EU strikes €43 billion deal to boost semiconductor chip production

The EU has reached an agreement on how to boost the supply of semiconductors in Europe as the bloc races to reduce its dependency on Asian suppliers.

19/04/2023

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Brussels to delay fines for excessive deficit until 2024

Under current fiscal rules, member states are bound to keep their deficit levels under 3%, a figure that many currently exceed.

08/03/2023

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Watch: Spain & Netherlands strike surprising alliance on fiscal reform

The two countries want the EU fiscal rules to become more simple, transparent and realistic.

05/04/2022

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Euro area debt soars to 98% of GDP amid COVID-19 crisis - Eurostat

Public debt and deficit surged last year across the EU as governments borrowed massively to mitigate the impacts of pandemic lockdowns.

22/04/2021

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Fiscal Rules: Towards a new growth model for Europe

IN PARTNERSHIP WITH THE EUROPEAN COMMISSION

France, Belgium, Italy, Spain and Greece are among the countries with debt-to-GDP ratios near or above 100%

26/02/2020

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Portugal no longer breaking EU budget deficit rules

European Commission to end disciplinary budget procedures against Portugal and Croatia, but France, Spain and the UK remain above deficit limits.

22/05/2017

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EU warns Macron over French budget deficit

EU Economic Affairs Commissioner Pierre Moscovici says incoming president Emmanuel Macron must work on permanently reducing France's budget deficit.

09/05/2017

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France's fragile economy is Hollande's unwanted legacy

Outgoing French President Francois Hollande promised to fix the economy five years ago. But despite stablising the public accounts he has failed to get the French back to work as promised.

24/03/2017

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Spain poised for new government after 10 months of political limbo

Spain is set to get its first real government in 10 months.

25/10/2016

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Portugal tries for a budget balance between deficit and austerity

Portugal's Socialist minority government has unveiled a 2017 budget intended to reduce the deficit, but also roll back some austerity measures.

14/10/2016

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EU seeks to sanction Spain, Portugal over spending

Spain and Portugal could faces fines for breaching EU spending rules after the European Commission opened a sanctions procedure on Thursday over both countries failure to tackle their budget…

07/07/2016

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Spain wants to slow deficit reduction

Spain plans to cut its government deficit this year and next at a slower pace than originally agreed with the European Commission as it struggles to bring its public debt in line with Brussels' demand

19/04/2016

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France confident on deficit reduction, European Commission not convinced

French Finance Minister Michel Sapin has said the country will meet its 2016 target for cutting its public deficit but the European Commission does not believe it can achieve that.

04/02/2016

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[Map] How quickly does your country spend its annual budget?

11/11/2015

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Greece: new round of debt talks as default looms

Denying that a debt default was discussed, Greek Prime Minister Alexis Tsipras met with his negotiating team before they headed to Brussels for

12/06/2015

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Unreported Europe

Paying the price for Germany's economic miracle

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