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The Fiscal Compact of the EU

At the European Council on December 8-9 2011 the 17 eurozone members and another 6 countries outside the euro area (Bulgaria, Denmark, Latvia, Lithuania, Poland and Romania) have agreed to sign an intergovernmental agreement, aimed at strengthening budgetary discipline and for greater coordination of economic policies. There are another three countries that at that time needed to consult their national parliaments or had doubts. Only Britain was firmly against the agreement, after the country vetoed planned amendments to the EU treaties, also aiming deeper coordination and discipline. According to the deal in December, the new fiscal pact has to be ready by March 2012. Already intensified writing of the text is taking place, which is why euinside has decided to detach the covering of the various versions of the pact, as well as the political processes accompanying it in a separate subject, because undoubtedly this is going to be one of the hottest subjects of 2012.

14 September 2012 13:09 The Court in Karlsruhe: Politicians Have to Offer Solutions for the Future of the Eurozone

For months Europe and the whole world have been expecting the decision of the German Constitutional Court on the European Stability Mechanism (ESM) and the Treaty on Stability, Coordination and Governance in the Euro Area, also known as the Fiscal Compact. The Court had to answer the question wh ...

2 February 2012 11:59 The Fiscal Pact in the EP: from a Political Farce to Victory for Unity

I was not right in my predictions that the debate in the European Parliament on the already agreed by the EU leaders on Monday, January 30th, new fiscal treaty would cause the traditional sharp criticism against the loss of community method and the European Parliament's role in the eurozone summ ...

31 January 2012 09:53 Is the Fiscal Compact the Big Bazooka?

"Firewall - what is the condition - bigger firewall to a de facto or maybe a jural fiscal union. The problem is that the big bazooka had to be there and is not there yet. Trust continues to be destroyed because of this asymmetry of considerations". These are words of Mr Angel Gurria, secretary g ...

30 January 2012 08:31 Kaare E. Janson: Bulgaria's Biggest Mistake is non-Utilisation of the EU Funds

The fiscal compact should convince the financial markets that Europe can and wants to put its house in order, Danish Ambassador in Bulgaria H.E. Kaare E. Janson is convinced, who spent some time for an interview with euinside. As of January 1 Denmark took over the presidency of the Council of t ...

20 January 2012 17:35 Draft 4: the European Parliament and the Non-Euro Countries Have Won

The draft of the fiscal pact of the EU is beginning to resemble something final, judging from the fourth draft, which leaked late on Thursday in British daily The Telegraph. If the previous three times the text changed starting with the title and going through changes of the subtitles, now the m ...

24 August 2012 10:38 The Fiscal Compact Takes Effect in Bulgaria with the Public Finance Act

The provisions of the Fiscal Compact, adopted by 25 EU countries this spring, are becoming part of Bulgaria's national legislation via the draft Public Finances Act (PFA) proposed by the Ministry of Finance. Apart from the Fiscal Compact, with this act the country meets the recommendations of th ...

1 February 2012 15:01 The Polish Amendment in the New Fiscal Treaty

On the 1st of March 2012 25 out of 27 EU member states will sign the new Treaty on Stability, Coordination and Governance of the Economic and Monetary Union (EMU), the so called fiscal compact. Without so much drama and much faster than expected, on Monday evening ended the informal European Cou ...

30 January 2012 13:04 Bulgaria Supported Partially the EMU Stability Treaty

Bulgarian National Assembly has given the government a mandate to negotiate on our participation in the new Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (EMU)". This is an intergovernmental agreement agreed at the end of last year, previously known as 'fisc ...

29 January 2012 16:07 Merkel in Davos: Do We Dare More Europe?

Europe must be a political union, where the European Commission looks more like a government, the European Parliament is stronger and the Council (where member states' leaders are presented) is a kind of its second chamber, and the EU Court of Justice is the supreme court with powers to supervis ...

19 January 2012 12:36 The EP: The Fiscal Compact Is Unnecessary, Even Dangerous

We express doubts regarding the need for such an intergovernmental agreement, most of the main objectives of which could be better and more effectively achieved by means of measures under EU law, MEPs said in a resolution on the treaty on the enhanced economic union, which is currently being pre ...

 
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