Hollande believes the EU must refocus its efforts away from austerity to growth.When Europe is reeling struggling to revive their economies in the wake of the eurozone credit crisis.Most of the leaders belive in cut of public spending and get the deficit and debt under control.EU leaders will hold an unofficial summit on May 23rd to discuss growth strategies.The move comes after voters in France and Greece showed dissatisfaction with their governments' austerity measures. French president-elect
Francois Hollande will be invited to the unofficial summit in Brussels.
The meeting will come ahead of an official EU summit scheduled for late
June.
France presidential poll and Greece's parliamentary election, voters of both countries favored parties opposing the austerity plans their governments were backing in line with the EU's bid to tackle the euro zone debt crisis.Syria too has the same agenda.
EU plans The Stability and Growth Pact (SGP) is a rule-based framework for the coordination of national fiscal policies in the economic and monetary union (EMU). It was established to safeguard sound public finances, an important requirement for EMU to function properly. The Pact consists of a preventive and a dissuasive arm.Member States must submit annual stability or convergence programmes, showing how they intend to achieve or safeguard sound fiscal positions in the medium term taking into account the impending budgetary impact of population aging. The Commission assesses these programmes and the Council gives its Opinion on them. The preventive arm includes two policy instruments.
France presidential poll and Greece's parliamentary election, voters of both countries favored parties opposing the austerity plans their governments were backing in line with the EU's bid to tackle the euro zone debt crisis.Syria too has the same agenda.
EU plans The Stability and Growth Pact (SGP) is a rule-based framework for the coordination of national fiscal policies in the economic and monetary union (EMU). It was established to safeguard sound public finances, an important requirement for EMU to function properly. The Pact consists of a preventive and a dissuasive arm.Member States must submit annual stability or convergence programmes, showing how they intend to achieve or safeguard sound fiscal positions in the medium term taking into account the impending budgetary impact of population aging. The Commission assesses these programmes and the Council gives its Opinion on them. The preventive arm includes two policy instruments.
- The Council, on the basis of a proposal by the Commission, can address an early warning to prevent the occurrence of an excessive deficit.
- Using the policy advice, the Commission can directly address policy recommendations to a Member State as regards the broad implications of its fiscal policies
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