The European Commission is set to initiate the Excessive Deficit Procedure (EDP) against France and six other countries for exceeding the EU's deficit limit of 3% of GDP. France, Italy, Slovakia, Belgium, Malta, Hungary, and Poland are among the nations facing this action due to their excessive deficits last year. The move is expected to complicate France's political landscape, particularly with parliamentary elections less than two weeks away. The EDP process can lead to significant fines, potentially amounting to billions of euros, and requires countries to implement fiscal consolidation measures. Detailed country reports were published, though France and Hungary's reports were notably missing. This development underscores the EU's commitment to enforcing fiscal discipline among its member states and adhering to EU rules, impacting campaign priorities.
France’s next government will have to tussle with EU’s spending police: Macron’s snap election looks likely to herald a fight between Paris and Brussels as the country is one of seven placed in Excessive Deficit Procedure. https://t.co/mPDV4XpGOZ
Business - EU Reprimands France and six others over budget deficit ➡️ https://t.co/XfEV8jxbNk https://t.co/2JpNnMyhQn
The European Commission will initiate penalty procedures against France and Italy for excessive debts https://t.co/BxsW8B9V4O https://t.co/jk8kh47G4d
France's next government will have to tussle with the EU's spending police https://t.co/p7dCEJbWHs
EU rebukes France for breaking budget rules https://t.co/ddg1O6GesT
A perfect example of how pro-establishment national elites use the external constraint of the euro against their “populist” adversaries — and against their own electorates. I talk about this in my latest article: https://t.co/3KN7BQQqBh. https://t.co/elc6u2ApAY
#EU is expected to warn nearly 10 governments, including #France and Italy, for their excessive spending under new budget regulations. Here are the details. https://t.co/iRBjcCq6p1
Brussels admonishes France over deficit as election nears – Europe live https://t.co/DCXlVovHeu
After announcing it will start/continue deficit proceedings against 8 EU members, the @EU_commission has published detailed country reports on 25 of its members. Two are missing: 🇫🇷 &🇭🇺 https://t.co/OuybeT1prz https://t.co/EKBayGUd4X
France has always had a large deficit but has always been granted political slack by the EU so long as pro-EU governments were in power. Now that Le Pen might get into government ---> “excessive deficit procedure”. For a deep dive on what is happening: https://t.co/3KN7BQQqBh https://t.co/PLtyq3oTnB
The European Commission opens Excessive Deficit Procedures (EDP) against Belgium, France, Italy, Hungary, Malta, Poland and Slovakia. An important move to show that nobody, even "La France," is exempt from the fiscal rules. @jackschickler has the story. https://t.co/8JvPRlGreY
France and Italy were scolded by the EU for running big deficits, the first stage in a confrontation that could prompt billions of euros in fines https://t.co/WLyzxBjQkg via @economics
France and Italy get EU deficit scolding as markets watch https://t.co/l5pPtG0Oal via @europressos @WHorobin @Alemrome https://t.co/PGD9KY50vH
The EU is expected to take a number of member states to task over excessive spending. Several countries, including France, Italy and Belgium, could be hit with legal action. https://t.co/uwRifQI6KY
France and Italy were scolded by the EU for running big deficits, the first stage in a confrontation that could prompt billions of euros in fines https://t.co/YmheURfxpf
France and Italy enters Excessive Deficit Procedures for deficits; no major surprise here. -> https://t.co/S0UPEke2i6, still no gory details.
🇪🇺 🇫🇷 🇮🇹 *EU PUTS SEVEN COUNTRIES INTO EXCESSIVE DEFICIT PROCEDURES - BBG *EU SLAMS #FRANCE, #ITALY, SLOVAKIA, BELGIUM, MALTA DEFICITS *EU ALSO PUT HUNGARY, POLAND INTO EXCESSIVE DEFICIT PROCEDURES
EU to reprimand France, Italy, and others over excessive spending https://t.co/b10aTHw62j https://t.co/wbPWNO6Hjs
The sudden panic over France’s deficit is a crystal clear example of how the euro is used to subvert democracy. Elect the wrong government (or even just consider doing so) — and the supposedly “apolitical” and “independent” ECB won’t think twice about resorting to monetary… https://t.co/4xz0hOF6Os
Seven EU countries – including France – should be placed under the European Commission's excessive deficit procedure today, which may contribute to keeping a lid on EUR/USD https://t.co/GS9pfDciNd
Ahead of the French parliamentary elections, the country’s hefty deficit and growing debt are central to the campaign https://t.co/LpBQRNMu0O 👇
The EU is set to admonish France for breaking the bloc’s deficit rules, triggering a process that can lead to onerous fines and complicating campaign priorities less than two weeks before elections https://t.co/XYj36c3Af7 vía @bpolitics
EU to slam France over budget deficit, adding to political woes https://t.co/ChBNd2K5kP via @WHorobin https://t.co/GDtlJTKMP8
The EU is set to admonish France for breaking the bloc’s deficit rules, complicating campaign priorities less than two weeks before voting starts in legislative elections https://t.co/8mNAnlaDMQ
The EU is set to admonish France for breaking the bloc’s deficit rules, triggering a process that can lead to onerous fines and complicating campaign priorities less than two weeks before elections https://t.co/RqVqm017LR
Today, the European Commission will announce infringement procedures for countries with excessive deficits (per definition , exceeding 3%) Italy and France among them https://t.co/WnMUcRArKD
France and Italy will be among seven countries that will face an EU infringement procedure for their excessive deficits last year, sources say https://t.co/e1B6VxOsN2
‼️Heads of Cabinet @EU_Commission have just agreed to start process tmrw to put France into EDP as Fr deficit > 3%GDP. Fr will now need to deliver a fiscal consolidation next yr. No chance @J_Bardella, popular front or hung parliament can do that A major fiscal fight is coming
Brussels to chide France over deficit as spending clash looms https://t.co/vb6eKvxkOm
How the ECB is conspiring to undermine Le Pen The EU shouldn’t simply be viewed as a supranational authority that infringes upon the autonomy of nation-states (though it is also that, of course), but also as an institution which pro-establishment national authorities can, if… https://t.co/CLBc8x1tQe
(W-What?) The @EU_Commission is expected to initiate its Excessive Deficit Procedure against #France this week, an action designed to force member states to get poor #public finances in line with #EU rules, chart @markets https://t.co/UUC0iCCiFu https://t.co/yBNI9Fvp5L