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Image header Agence Europe
Europe Daily Bulletin No. 13676
Contents Publication in full By article 23 / 39
ECONOMY - FINANCE - BUSINESS / Economy

Council formally opens excessive deficit procedure for Austria

On Tuesday 8 July, the Ecofin Council asked Austria and Romania to correct their excessive public deficits by 2028 and 2030 respectively.

Officially opening an excessive deficit procedure for Austria, the Council is asking Vienna to reduce its deficit from 4.7% of GDP in 2024 to 3% in 2028. The government has been asked to take the measures needed to consolidate public finances by mid-October.

In accordance with the multiannual budget programme validated on the same day, Austria will...

Contents

EUROPEAN PARLIAMENT PLENARY
EU2025DK: a majority of MEPs support programme of Danish Presidency of EU Council
CHINA: MEPs want EU to take tough stance on Beijing ahead of bilateral summit
CLIMATE: 2040 target – MEPs to vote on urgency procedure on 9 July, after report awarded to Patriots for Europe
MEDIA: MEPs question whether EU Member States are really prepared to apply European Media Freedom Act
FUNDAMENTAL RIGHTS: independent living for persons with disabilities and deinstitutionalisation – MEPs support EU plan, but question its funding
FISHERIES: European Parliament approves conclusion of new EU/Greenland fisheries agreement
TAXATION: European Parliament gives green light to legislative package on value added tax in digital age
HOME AFFAIRS: European Parliament approves political agreement reached with Member States to gradually launch EU’s Entry-Exit System
ENERGY: European Parliament approves provisional agreement on extension of gas storage regulation
ENERGY: European Parliament adopts own-initiative report on security of supply
SECTORAL POLICIES
INDUSTRY: European Commission comes to rescue chemical industry
AGRICULTURE: “CAP is such a fundamental policy that it cannot be mixed with other funds”, says Carmen Crespo
ANIMAL HEALTH: €14 million in EU funds to compensate Polish farmers for avian flu
ENVIRONMENT: MEPs confront European Commission with its contradictions during debate on water resilience strategy
DIGITAL: “trusted flaggers” to regulate online content under DSA regulation still missing in almost half of EU countries
DIGITAL: AmCham EU urges Commission to propose ‘omnibus’ digital simplification text taking account of “technological openness”
CYBERSECURITY: EU cybersecurity is undermined by its own institutions, according to study by Business Digital Index
REGIONS: CPMR advocates European budget aligned with territorial needs
ECONOMY - FINANCE - BUSINESS
EMU: EU Council sets conversion rate between Bulgarian lev and euro
FINANCE: EU countries broadly in favour of relaunching securitisation
FINANCE: EU Council approves provisional agreement reached with European Parliament on simplification of financial reporting
ECB: end-2025 target for agreement in EU Council on ‘digital euro’ legislative package
ECONOMY: Council formally opens excessive deficit procedure for Austria
TAXATION: Danish Presidency of EU Council hopes to reach an agreement on energy taxation at November Ecofin Council
MONEY LAUNDERING: FATF warns of gaps in fully understanding and responding effectively to terrorist financing
EXTERNAL ACTION
UNITED STATES: EU faced with Donald Trump’s unpredictability on customs tariffs
FUNDAMENTAL RIGHTS - SOCIETAL ISSUES
RULE OF LAW: 2025 Rule of Law Report – Hungary’s deteriorating situation contrasts with positive trends elsewhere in EU
SOCIAL AFFAIRS - EMPLOYMENT
EMPLOYMENT: provisions on working time, automatic wage indexation – at Aalborg, Member States identify obstacles to their competitiveness
NEWS BRIEFS
AFRICA: ‘EU-African Union’ summit to be held in Angola on 24 and 25 November
CITIZENSHIP: European Commission registers ECI on food for all
EUROPEAN COMMISSION: Catherine Day to chair think tank on future of civil service within EU institution
DEFENCE: European Peace Facility – EU adopts €10 million assistance measure for Armed Forces of Senegal
ECONOMY: EU Council adopts revision of post-Covid-19 national recovery plans for six Member States
ENVIRONMENT: Sixteen EU farming organisations call for simplification of regulation on combating imported deforestation
RED SEA: EU strongly condemns Houthi attack on bulk carrier
MIGRATION: European Commissioner Magnus Brunner and Italian, Greek and Maltese interior ministers blocked upon arrival in Benghazi
CSDP: EU Council extends EUTM RCA mission and regional advisory and coordination cell
RESEARCH: European Union and Jordan renew partnership for research and innovation in Mediterranean region
TRANSPORT: making Europe leader in electric cars is only way to keep automotive sector afloat, according to T&E