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Image header Agence Europe
Europe Daily Bulletin No. 13790
Contents Publication in full By article 10 / 33
ECONOMY - FINANCE - BUSINESS / Finland

EU Council asks Helsinki to put end to Finland’s excessive deficit by end of 2028

On Tuesday 20 January, the Ecofin Council decided to initiate the excessive deficit procedure (EDP) against Finland, on the basis of the recommendation issued by the European Commission in December 2025 (see EUROPE B13772A4).

Helsinki will have to respect the following trajectory of net growth in annual public spending: 1.3% in 2026, 1.5% in 2027 and 1.8% in 2028. The aim is to reduce the national public deficit from 4.5% of Finnish GDP in 2025 to 2.7% in 2028.

The day before, on her...

Contents

SECTORAL POLICIES
DIGITAL: with revision of Cybersecurity Act, EU is taking a step forward by giving itself power to exclude foreign suppliers
HOME AFFAIRS: issue of migrant returns to be at heart of informal Justice and Home Affairs meeting in Nicosia this week
JUSTICE: European Parliament co-rapporteur Tineke Strik calls for fundamental values to be preserved in 2028-2034 programme
COHESION: EU Council decides to reduce maximum amount of ’Brexit’ reserve
ENVIRONMENT: ship recycling - new certificate formats to reduce administrative burden in EU
FISHERIES: EU Council authorises European Commission to negotiate a new EU/Morocco Agreement
FISHERIES: Oceana warns about European-owned ships flying high-risk flags
FUNDAMENTAL RIGHTS - SOCIETAL ISSUES
FUNDAMENTAL RIGHTS: European Commission wants to strengthen application of law in face of structural racism
ECONOMY - FINANCE - BUSINESS
ECONOMY: European Commission urging Member States to “speed up” implementation of their post-Covid-19 recovery plans by end of August
FINLAND: EU Council asks Helsinki to put end to Finland’s excessive deficit by end of 2028
EUROPEAN PARLIAMENT PLENARY
GREENLAND: Greenland is not for sale, warn European Parliament and EU High Representative together
IRAN: MEPs call on EU to react to brutality of repression in country
HUMANITARIAN AID: against backdrop of “multiple crises”, European Parliament approves report calling for European humanitarian aid to be increased
DIGITAL: European Parliament wants to send firm message in face of sexual deepfakes generated on X
INTERNAL MARKET: European Parliament overwhelmingly reiterates its support for a 28th company regime
ECONOMY: European Parliament calls for review of “regulatory gaps” in ‘shadow banking’ in EU
EU2026CY: MEPs support priorities of Cyprus Presidency of EU Council
DEMOCRACY: European Parliament urges Spain to ratify 2018 reform of EU Electoral Law
HEALTH: European Parliament adopts its negotiating position on critical medicines
EMPLOYMENT: European Parliament weakens its message on need for a new ‘just transition directive’
HOME AFFAIRS: European Parliament adopts joint resolution to step up fight against drug trafficking in EU
EXTERNAL ACTION
MERCOSUR: a close vote expected in European Parliament on referral of case to EU Court of Justice
UNITED STATES: in European Parliament, EPP shows little inclination to mobilise ‘anti-coercion’ tool in face of Donald Trump’s “trade blackmail”
SYRIA: EU welcomes ceasefire between interim authorities and Syrian Democratic Forces
INSTITUTIONAL
BUDGET: MFF 2028-2034 - MEPs launch work on National and Regional Partnership Fund
COUNCIL OF EUROPE
ITALY: Commissioner for Human Rights calls on country to strengthen protection of human rights and step up fight against child poverty
NEWS BRIEFS
CLIMATE: in committee, MEPs approve provisional agreement on 2040 target
EUROPEAN COMMISSION : European Commission appoints new director to DG Budget and new deputy director-general to DG Justice and Consumers
COMPETITIVENESS: presentation of ‘Industrial Accelerator Act’ postponed again
ECONOMY: Cyprus Presidency of EU Council undertakes to work urgently to make loan to Ukraine a reality for 2026 and 2027
ECONOMY: EU Council gives green light to fifth EU macrofinancial assistance to Jordan
ENERGY: according to Robert Fico, EU must suspend application of emissions trading mechanism to regain competitiveness and influence
TAXATION: Martin Schirdewan and Terry Reintke see OECD agreement on minimum corporate taxation as a tool to counter Donald Trump