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Article 7 of the Treaty on European Union is a procedure in the treaties of the European Union to suspend certain rights from a member state. While rights can be suspended, there is no mechanism to expel a state from the union. The procedure is covered by TEU Article 7.
There has been substantial criticism over the austerity measures implemented by most European nations to counter this debt crisis. US economist and Nobel laureate Paul Krugman argues that an abrupt return to "'non-Keynesian' financial policies" is not a viable solution [18] Pointing at historical evidence, he predicts that deflationary policies now being imposed on countries such as Greece and ...
The European Commission proposed on Wednesday to change the EU's fiscal rules so that governments would negotiate individual debt reduction paths of a length linked to reforms and investments, but ...
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 ...
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 ...
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 ...
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 ...
It would mutualise eurozone debt above 60%, combining it with a bold debt reduction scheme for countries not on life support from the EFSF. [7] In January 2012, a working group within the European League for Economic Cooperation unveiled a blueprint for a Euro T-Bill Fund. The proposal, which elaborates further on a concept first introduced by ...