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Public deficit

Economy

Italy eyes 3% EU deficit target this year, ahead of schedule

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Markets

French government bonds under pressure after Moody's downgrade

The yield on 10-year French debt rose to more than 3%, on the first trading day after the credit rating agency unexpectedly cut France's debt rating.

Economy

What next for France's finances after the government's collapse?

Without a new budget, the country is facing a deficit of up to 6.6% of the GDP in 2025, more than double the European Union's standard.

Europe News

Germany, Netherlands, Austria face Brussels warning for budget spend

Rejigged EU austerity rules – in play for the first time since the pandemic – are now coming back to haunt the bloc’s biggest deficit hawks, in a move likely to prove explosive to national politics.

Economy

French lawmakers vote in favour of new tax on wealth of billionaires

A majority of lawmakers supported the proposition from the far-left LFI party, despite warnings from the incumbent government.

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Economy

Will France's looming tax hikes force wealthy citizens to move away?

The French government is desperate to find savings of €60bn next year, part of it is going to be sourced through 'exceptional' and 'temporary' tax hikes.

Economy

French government unveils unprecedented budget cuts for 2025

The draft budget plan will be under intense scrutiny by the EU Commission after Brussels formally warned France of its excessive budget deficit back in June.

Economy

French debt soars reinforcing concerns about its budgetary control

France's borrowing of €68.9 billion in the second quarter of 2024 has added to the country's debt pile reinforcing concerns about its budgetary control.

Europe News

Europe scrambles to finalise new fiscal rules after lawmaker vote

Twitchy bond markets and upcoming elections mean the clock is ticking for controversial new EU deficit laws.

Europe News

Franco-German compromise prompts EU deal to reform fiscal rules

Economic and finance ministers of the European Union sealed on Wednesday a deal to reform the bloc's fiscal rules, a breakthrough made only possible after Germany and France found a middle ground.

Economy

€3 trillion: Is France’s debt out of control?

France’s debt went from €1 trillion in 2003 to €3 trillion this year. What happened?

USA

Biden and McCarthy reach US debt-ceiling deal

The agreement must now be approved by Congress and risks upsetting both major political parties in the US.

Economy

EU fiscal rules to remain suspended to cushion impact of Ukraine war

The announcement from Brussels come in the midst of record-breaking inflation and economic stagnation.

Economy

Strict or flexible? Brussels kicks off debate to reform fiscal rules

The European Commission is calling for a gradual reduction of public debt but estimates the green transition will need €650 billion in annual investments until 2030.

World News

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.

Italy

European Commission concludes that Italy is breaching EU fiscal rules

Time is running out for Italy after the European Commission concluded that the country is breaching EU fiscal rules because of its huge public debt

Economy

Italian government easily defeats vote of no-confidence

Shrugs off criticisms to pass 2019 budget that bows to Brussels and does not go nearly as far with public spending increases as first planned.

Greece

Greeks protest austerity measures and public infrastructure sales

Workers pour out bags of coal in front of parliament in opposition to sale of power plants