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Image header Agence Europe
Europe Daily Bulletin No. 12275
Contents Publication in full By article 5 / 32
ECONOMY - FINANCE - BUSINESS / Spain

Madrid officially emerges from excessive deficit procedure

On Friday 14 June, the ECOFIN Council abrogated the excessive deficit procedure opened in 2009 for Spain, which brought its government deficit below 3% of national GDP on a sustainable basis.

The Spanish public deficit was 2.7% and 2.5% of GDP in 2017 and 2018 respectively. In its spring forecasts, the Commission forecasts a deficit of 2.3% of GDP in 2019 and 2.0% of GDP in 2020 (see EUROPE B12269A2). The structural deficit (excluding cyclical effects) improved by 0.4% of GDP over the...

Contents

ECONOMY - FINANCE - BUSINESS
EMU: partial agreement at Eurogroup on outline of future fiscal capacity for euro area
TAXATION: an agreement with ten Member States on financial transaction tax expected in autumn
FINANCE: expert group on sustainable finance will present its three reports on 18 June
ITALY: Eurogroup asks Rome to take “necessary measures” to comply with EU budgetary rules
SPAIN: Madrid officially emerges from excessive deficit procedure
STATE AID: green light for €5.4 billion Italian support for electricity production from renewable sources
STATE AID: green light for an Italian measure limiting strict emissions under a capacity mechanism
INSTITUTIONAL
FUTURE OF EU: only stumbling block preventing completion of EU Twenty-Seven strategic agenda for period to 2025 is climate issue
FUTURE OF EU: Jacques Delors Institute suggests guidelines for future European coalition
BUDGET: member States will confirm their differences on 2021-2027 multiannual financial framework on Tuesday 18 June
DEMOCRACY: EU resists disinformation campaigns despite increasing Russian manipulation
EPP: Lamassoure and Brok call on EU leaders not to end Spitzenkandidaten system
HUNGARY: Viktor Orbán sweeps away concerns about respecting rule of law in his country
SECTORAL POLICIES
HEALTH: slight tensions in EU Council on future EU budget
INDUSTRY: Commission proposes a legislative act to revise emission compliance factors
ENERGY: next trilateral negotiations on Russian gas delivered to Ukraine will be held around mid-September
CLIMATE: EU's credibility will be tested at European summit on 20-21 June, according to Greenpeace and WWF
SPACE: European space sector records a decline in commercial orders for first time in 15 years
EXTERNAL ACTION
FOREIGN AFFAIRS: crisis in Gulf brought up at Council of Foreign Ministers
TUNISIA: EU and Tunis reiterate their willingness to cooperate in fight against terrorism
UNITED STATES: Commission officially announces agreement with Washington on beef quotas
WTO: second round of negotiations on e-commerce this week in Geneva
SOCIAL AFFAIRS
SOCIAL: free movement of workers, Mr Budăi would like to organise a broad debate between different EU Council formations
NEWS BRIEFS
ENVIRONMENT: new EU regulation on persistent organic pollutants is adopted
TAXATION: Council actions removal of Dominica from European 'black' list of non-cooperative jurisdictions
TAXATION: Switzerland will soon be removed from grey list of non-Member States that must make commitments on ‘fair taxation’
RUSSIA: EU urges authorities to respect right to peaceful demonstration
SOUTHERN AFRICA: EU requests consultations on safeguard measures for European poultry
TRANSPORT: new heavy goods vehicles in EU must now be equipped with a first generation smart tachograph
The B-word: Agence Europe’s newsletter on Brexit
THE B-WORD: Back to the (with)drawing board
CALENDAR
Main activities of the European Institutions: from 17/06 to 23/06/2019
CALENDAR EXTRA
Other Events: until 30 June 2019