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Image header Agence Europe
Europe Daily Bulletin No. 13325
Contents Publication in full By article 12 / 28
ECONOMY - FINANCE - BUSINESS / Economy

In 2024, aggregate fiscal stance of euro area expected to be contractionary at around 0.5% of GDP

As in 2023, the euro area countries are committed to maintaining a “contractionary” aggregate fiscal stance in 2024, of 0.5% of the euro area’s GDP each year, according to the draft recommendation for an economic and budgetary policy at euro area level included on the agenda of the meeting of the Member States’ ambassadors to the euro area on Wednesday 10 January (see EUROPE B13297A16, B13309A15).

This fiscal stance will be translated into prudent national budgetary policies, which...

Contents

Russian invasion of Ukraine
ECONOMY/BUDGET: partial political agreement in EU Council on ‘Ukraine Facility’
RUSSIA: 48 countries and EU condemn North Korean arms transfers to Russia
AGRICULTURE: six EU associations call for measures to limit impact of imports of Ukrainian agricultural products
SECTORAL POLICIES
COMPETITIVENESS: EU Council approves a partial political agreement on ‘STEP’, without adopting a budget
RESEARCH: Belgian Presidency of EU Council puts forward proposal to improve knowledge valorisation in Europe
FISHERIES: European Commission focusing work on sustainability of fisheries activities and ocean governance
FISHERIES: EU Council ratifies fishing quota regulations for 2024
MIGRATION: United Nations High Commissioner for Refugees calls on Belgian and Hungarian Presidencies of EU Council to ensure protection and respect of migrants’ rights
ENVIRONMENT: scientific study on risks of PFASs for foetuses argues in favour of adopting proposed ‘REACH’ restrictions, stresses NGO HEAL
EDUCATION - YOUTH - CULTURE - SPORT
YOUTH: on eve of this election year, Commission focusing on strengthening dialogue and integrating interests of young people to consolidate European unity
SOCIAL AFFAIRS - EMPLOYMENT
SOCIAL/EMPLOYMENT: social protection and labour market skills shortages on agenda of informal meeting of Belgian Presidency of EU Council
ECONOMY - FINANCE - BUSINESS
ECONOMY: in 2024, aggregate fiscal stance of euro area expected to be contractionary at around 0.5% of GDP
ECB: Isabel Schnabel talks to internet users about interest rate policy, greening of ECB policy and digital assets
TAXATION: tax revenues will increase by between $155 and $192 billion each year, thanks to minimum corporate tax, according to OECD
INSTITUTIONAL
EUROPEAN PARLIAMENT 2024: European and German social democrats intend to support workers in economic transformation
EUROPEAN COMMISSION: appointment of two new directors for ‘environment’ and ‘maritime affairs’ departments
SECURITY - DEFENCE
DEFENCE: Thierry Breton calls for a €100 billion defence fund
EXTERNAL ACTION
BANGLADESH: EU regrets that legislative elections were held without all major opposition parties
CHINA: Beijing initiates anti-dumping proceedings on European spirits in response to EU investigation into its electric cars
FUNDAMENTAL RIGHTS - SOCIETAL ISSUES
RULE OF LAW: Finnish MEP Petri Sarvamaa launches petition to force EU Council to move forward in triggering Article 7 of Treaty against Hungary
NEWS BRIEFS
AGRICULTURE: European Commission approves two new geographical indications from Italy and Spain
CANADA: three German NGOs lodge a constitutional appeal against ratification of CETA
ECONOMY: start of European Parliament/EU Council negotiations on reform of Stability and Growth Pact on 23 January
ENVIRONMENT: negotiations between European Parliament and EU Council on ‘Packaging and Packaging Waste’ regulation will begin on 5 February
DIGITAL: European Commission supports 37 projects to tune of €252 million to strengthen digital connectivity infrastructures
ANIMAL HEALTH: European Ombudsman’s enquiry into European Commission’s failure to act on ending use of cages
FOOD SAFETY: two pesticide active substances will no longer be subject to review of maximum residue levels, announces EFSA
EMU: Guillaume Pierre Wunsch to be reappointed Governor of National Bank of Belgium until 2029