Statement by Vice-President Katainen on the Draft Budgetary Plans – EU likely to approve French, Italian 2015 budgets

France and Italy revealed revised 2015 budgets on the 27 October 2014. The European Commission announced on the 28 October 2014 that these revisions would be sufficient to stop the need to consider a negative opinion at this stage under the strengthened budgetary policy coordination processes introduced in 2013, although a detailed assessment would still need to be carried out.

Provisional clearance was given also to the 2015 budget plans of all other eurozone countries by the European Commission - the last political act of the 2009-2014 European Commission before it stepped down on the 31 October 2014.

• Primary Source

BBC News, 28.10.14: European Commission to approve France and Italy budgets http://www.bbc.co.uk/news/business-29810370

ESO: Background information: EU in last-ditch talks with Italy and France on 2015 budget changes http://www.europeansources.info/record/eu-in-last-ditch-talks-with-italy-and-france-on-2015-budget-changes/

European Commission: DG Economic and Financial Affairs: EU economic governance: Stability and Growth Pact: Draft budgetary plans of euro area Member States http://ec.europa.eu/economy_finance/economic_governance/sgp/budgetary_plans/index_en.htm

EurActiv, 28.10.14: France, Italy trim 2015 budgets to win EU approval http://www.euractiv.com/sections/euro-finance/france-italy-trim-2015-budgets-win-eu-blessing-309528

France24, 28.10.14: France announces new budget measures to appease EU http://www.france24.com/en/20141027-france-new-budget-measures-appease-eu-deficit-limit-sapin/

The Local.fr, 27.10.14: France tries to appease EU with 'new' budget http://www.thelocal.fr/20141027/france-presents-new-measures-to-appease-eu-over-budget

The Local.it, 27.10.14: Italy bows to EU pressure over budget http://www.thelocal.it/20141027/italy-bows-to-eu-pressure-over-budget

EUObserver, 29.10.14: EU clears eurozone budgets after French, Italian tweaks http://euobserver.com/economic/126287

European Commission: RAPID: STATEMENT/14/344: Statement by Vice-President Katainen on the Draft Budgetary Plans http://europa.eu/rapid/press-release_STATEMENT-14-344_en.htm

Deutsche Welle, 28.10.14: EU likely to approve French, Italian 2015 budgets http://dw.de/p/1DdVx

Euronews, 28.10.14: France, Italy avert budget row with EU Commission http://www.euronews.com/2014/10/28/france-italy-avert-budget-row-with-eu-commission/

Blog: Open Europe, 29.10.14: France and Italy get preliminary approval of their budgets, but it's not the end of the story http://openeuropeblog.blogspot.co.uk/2014/10/france-and-italy-get-preliminary.html

EurActiv, 20.11.14: Commission officials: Fining France over deficit is still an option http://www.euractiv.com/sections/euro-finance/commission-officials-fining-france-over-deficit-still-option-310172

EurActiv, 21.11.14: France tests EU patience over prospect of budget deficit fines http://www.euractiv.com/sections/euro-finance/france-tests-eu-patience-over-prospect-budget-deficit-fines-310216

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