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Image header Agence Europe
Europe Daily Bulletin No. 13670
Contents Publication in full By article 8 / 26
ECONOMY - FINANCE - BUSINESS / Austria

Eurogroup delays opening of an excessive deficit procedure

On Monday 30 June, the Eurogroup did not recommend opening an excessive deficit procedure against Austria, contrary to the European Commission’s recommendation updated on Monday 23 June (see EUROPE B13653A2).

In their statement, the finance ministers of the euro area countries note that the Austrian public deficit stood at 4.7% of GDP in 2024 and is expected to reach 4.4% of national GDP in 2025, well above the legal maximum threshold of 3% of GDP.

Nevertheless, as Austria’s net...

Contents

Russian invasion of Ukraine
TRADE: agreement in principle between EU and Ukraine on future of their trade relations
RUSSIA: EU extends its economic sanctions by 6 months
EXTERNAL ACTION
MERCOSUR: EU Council is still waiting for proposal to sign EU/Mercosur agreement
DEVELOPMENT: European Commission and EIB launch €5 billion guarantee to support investment outside EU
GREAT LAKES: EU welcomes peace agreement reached in Washington between DRC and Rwanda
ARMENIA: EU and Yerevan strengthen cooperation
ECONOMY - FINANCE - BUSINESS
TAXATION : controversial G7 agreement on tax treatment for US multinationals would not require legislative revision in EU
AUSTRIA: Eurogroup delays opening of an excessive deficit procedure
SECTORAL POLICIES
DIGITAL: Henna Virkkunen welcomes “massive interest” in setting up artificial intelligence ‘gigafactories’ in Europe
CLIMATE: EPP group in European Parliament would like to see European Commission provide quid pro quos in support of 2040 target
CLIMATE: European Environment Agency warns of decline in Europe’s natural capacity to absorb CO2
ENERGY: European Commission presents documents to support national transposition of Energy Performance of Buildings Directive
ENVIRONMENT: ‘plastics treaty’, ‘green claims’ and ‘end-of-life vehicles’ in programme of Danish EU Council Presidency aimed at competitiveness
AGRICULTURE : MEPs call for more measures to support wine sector
AGRICULTURE : MEPs want to avoid major restructuring of EU livestock sector 
FISHERIES: ‘EU IUU Fishing Coalition’ calls for new generation of fisheries agreements between EU and third countries
FUNDAMENTAL RIGHTS - SOCIETAL ISSUES
FUNDAMENTAL RIGHTS: ‘Budapest Pride’ - nearly 200,000 people, including some 70 MEPs, marched despite ban
SECURITY - DEFENCE - SPACE
DEFENCE: Benedetta Berti calls for closer cooperation between EU and NATO
NEWS BRIEFS
ENERGY: European Environment Agency calls for more renewable capacity to reduce impact of gas prices on competitiveness   
ECONOMY/DEFENCE: EU countries have until 31 July to express interest in ‘SAFE’ instrument
HONG KONG: EU deplores erosion of civil liberties on fifth anniversary of National Security Law
JAPAN: EU delegation and Icelandic, Norwegian and Swiss missions to Japan condemn execution of Takahiro Shiraishi
LIBYA: European Commissioner for Internal Affairs and Migration Magnus Brunner to visit Libya on 8 July
MALAWI: EU to deploy election observation mission
MONTENEGRO: Podgorica closes Chapter 5 of EU’s acquis and takes another step towards accession
CSDP: EU Council extends mandates of EUBAM Rafah and EUPOL COPPS mission heads