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The European Council must then decide unanimously [a] to proceed to Article 7.3. Article 7.3: Once the European Council has unanimously decided that the breach is still occurring, the Council then votes by qualified majority to suspend rights of the accused country, including voting rights within the Council, until all duties are fulfilled.
The European Commission will on Wednesday propose changes to the EU's debt rules that would allow each of the bloc's 27 countries to negotiate its own debt reduction path, the length of which ...
BB debt reduction stands for the Budget Balance in structural terms needed to conduct a supplementary debt reduction effort for countries whose debt exceeds 60% of GDP. The provided formula for debt reduction is not applied (BB debt reduction =0) if the debt-to-GDP ratio was less than 60% by the end of the latest completed fiscal year.
The European Commission will not be granted any veto right over the national parliaments potential pass of a fiscal budget, but will have the role to issue warnings in advance to the national parliaments, if the proposed draft budget is found to compromise the debt and deficit rules outlined by the European Fiscal Compact.
The European Commission will present in the second half of October proposed changes to European Union fiscal rules that are likely to offer countries individual debt reduction paths, Commission ...
The European Union's executive arm on Wednesday criticized France for running up excessive debt, a stinging rebuke at the height of an election campaign where President Emmanuel Macron is facing a ...
Public debt $ and %GDP (2010) for selected European countries Government debt of Eurozone, Germany and crisis countries compared to Eurozone GDP. The European sovereign debt crisis resulted from a combination of complex factors, including the globalization of finance; easy credit conditions during the 2002–08 period that encouraged high-risk lending and borrowing practices; the 2007–2008 ...
Article 7 of the Treaty on European Union allows investigation of the member states that don't comply with the rule of law and subsequent levying of sanctions. Article 7 investigations were opened against Poland and then Hungary; so far without recommendations, the reason being that all the countries of the EU, except the member state being ...