|Author (Person)||Pop, Valentina|
Under the strengthened budgetary policy coordination processes introduced in 2013, the European Commission was due by the 30 November 2014 to issue its opinion on the draft budgetary plans for 2015 of each of the eurozone countries.
Features suggested that internal discussions within the European Commission were finding it difficult to make a decision as regarding the budgetary plans for France which would leave it with a substantial budget deficit, and thus test the credibility of the EU budgetary control processes.
Several media sources reported on 27 November 2014 that the European Commission had decided to postpone its decision on the French, Belgian and Italian budgets, giving these 3 countries three more months to come up with alternatives to avoid breaching the budgetary rules set up by the budget coordination procedure.
This policy was approved by Eurozone Finance Ministers at a Eurogroup meeting on the 8 December 2014.
|Subject Categories||Economic and Financial Affairs|
|Countries / Regions||Belgium, Europe, France, Italy|