The “preventive arm” regulation allows Member States to ask for a budget deviation “where exceptional circumstances” outside their control “have a major impact on the public finances.”
With the 20 September deadline fast approaching, it is crucial for EU Member States to submit the medium-term fiscal structural plans required under the reviewed economic governance framework
It took a 16-hour long last trilogue for Member States and the European Parliament to agree on a set of provisions reforming the so-called Stability and Growth Pact.
The Commission intends, as we learn from the communication, to propose changes only to the Stability and Growth Pact at this stage.