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.
| © The Council of the European UnionThe 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 ...
| © EUThe 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 ...
| © EUThe 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 ...
| © www.parliament.bgBulgaria 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 ...
| © euinsideKaare 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 ...
| © EUDraft 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 ...
| © European ParliamentThe 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 ...
| © European ParliamentThe Battle for the Fiscal Compact In Anticipation of the Fourth Draft
On Thursday there will be another, fourth version of the text of the intergovernmental treaty for enhanced economic and monetary union, the so called Fiscal Pact, which is expected to be signed by 26 EU member states. A day earlier the European Parliament is to adopt a resolution on the matter, ...
| © European ParliamentThe Fiscal Pact and Bulgaria: Close Encounters of the Third Kind
The absence, and lately the availability, of Bulgarian positions on key for the European Union issues, does not evoke almost any interest in Bulgaria's society and among the very few people that manifest curiosity on the issue in Bulgaria they evoke mainly perplexity. Such is the case with the f ...
| © EUAccession to the Fiscal Compact is Limited in Version 3
The fiscal pact will no longer be open for every EU member state that decides to join in at a later stage, but there will be an application procedure. This becomes clear in the new Article 15 added in the third version of the treaty, spread in the beginning of the week in the public domain by th ...
| © euinsideThe Fiscal Pact Will not Solve the Problem with EU Competitiveness
The Fiscal Pact serves for Germany`s relief. What the EU countries need is structural reforms, Dr Evgenii Kanev, an economist with the European Strategies and Policies Institute, believes. According to him, the debt crisis stems precisely from the differences of productivity and hence - of the c ...
| © EUThe Fiscal Pact: Something Like a Confidence Vote for the Euro
Surprisingly mild was the hearing of Polish Finance Minister Jacek Rostowski with the members of the Committee for Economic Affairs in the European Parliament, on the occasion of the end of the Polish Presidency and the achievements of the past 6 months. It was mild for two main reasons. One is ...
| © EUThis Time Cameron Stumbled
I remember a remark from the Matrix, for me fundamental for the entire philosophy of the movie. When Neo for the first time went to see the Oracle, they talked and then she told him: "And don't worry about the vase"! "What vase?", Neo asked, turning abruptly backwards, thus pushing a vase down, ...
| © The Council of the European UnionBulgarian Ministry of Finance is Having a "Media Break"
Do you know what was the Bulgarian position, while the EU was hotly debating how to save the eurozone without dividing Europe in two? Do you know whether the Bulgarian government (or the Treasury) has a plan B if the unthinkable happens to the euro? Do you know why has Bulgaria joined the Fiscal ...
| © The Council of the European UnionOn Bulgaria’s Participation in the European Fiscal Pact
23 EU Member States have agreed to sign a fiscal pact to boost the budgetary discipline and the economic cohesion. Actually, through changes in the EU treaties, the fiscal pact had to lay the foundation of a fiscal union in the euro area. The idea encountered strong opposition among the 10 count ...
| © The Council of the European UnionThe European Parliament Wants to Have a Role in the Fiscal Compact 'Euro Plus'
"Today's crisis in not only an economic crisis, it is also, but perhaps most of all, a crisis of values. This sounds banal, almost like a slogan, but let us try and take this idea seriously. A leading political theorist said that the market and all economic activities are first of all a moral un ...
| © The Council of the European UnionEurozone Plus Creates a Fiscal Compact Outside the EU
The 17 euro area countries, together with six non-euro countries (Bulgaria, Denmark, Latvia, Lithuania, Poland and Romania, which have also joined the Euro Plus Pact) will sign an intergovernmental agreement, committing to strengthen budgetary discipline and greater coordination of economic poli ...
| © EU