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Europe to Vote on Tougher Rules for Currency
Keywords:
New rules for euro currency nations in Sept. 2011. The rules provide for sanctions against countries with budget deficits exceeding 3% of GDP, and national debt exceeding 60% of GDP. Countries that break the rules will be required to make a cash deposit in a non-interest bearing account for an amount that is 0.2% of GDP. If the situation continues the deposit becomes a fine. The European Commission will still require finance ministers permission to impose sanctions, but the voting system makes this harder to block. The European Parliament will consider 6 pieces of legislation to make these changes.
The 3% of GDP deficit rule in the eurozone and new sanctions to ensure this is followed- 2011-2015
09/27/2011
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New York Times 09/27/2011
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German Optimism Depends On Spanish Deficits
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Spain, other EU countries and the constitutional cap on deficits
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Grouped Articles
Europe to Vote on Tougher Rules for Currency
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Spain's Rajoy Takes Aim at Deficit
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The budget has higher taxes on business and the rich to meet deficit reduction goals just as the economy is stalling.
Grouped Articles
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
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France Says It Will Miss Budget Deficit Targets
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German Optimism Depends On Spanish Deficits
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France's Lagarde Forecasts Austerity
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Euro Zone Deficit Hits Target for First Time Since 2008
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New Rules for the Euro Currency region in Sept. 2011 for policing deficits and national debt
09/27/2011
Grouped Articles
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
Wall Street Journal 09/30/2011
European Leaders Seek Bold Debt Deal, Despite Hurdles
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What does Germany want from the Euro and the European Union? The Euro issue facing Germany in 2011-2015
03/03/2010
German political leaders do not want a "transfer union." At the same time they want to keep the European Union, just as much as Chancellor Kohl and Chancellor Adenauer. Merkel, Schroeder, Schauble and other leaders agree on the need for the European Union. The question is how to bring fiscal discipline to the EU, even if this means redesigning the structure of the EU. The vision of a united Europe persists.
Grouped Articles
Wall Street Journal 03/03/2010
Germany's Surplus Isn't the Problem
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New York Times 05/22/2014
Greek Crisis Shows How Germany’s Power Polarizes Europe
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Economist 08/08/2015
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The Euro currency and the European Union
11/04/2008
The European Union currency since its inception and after the economic crisis of 2008-2009.
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Euro May Be Resurfacing as a Safe Haven
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Dollar Surges to 11-Year High Against Biggest Rivals
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Joseph E. Stiglitz -- Farewell to the Dollar as the World's Currency of Choice
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World Bank Head Sees Dollar’s Role Diminishing
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France and the Euro currency
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Wall Street Journal 01/14/2011
Europeâs Odd Couple: Sarkozy and Merkel
New York Times 01/13/2011
Economist's Rise on World Stage Was Marked by Repeated Setbacks
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France: Reforming gloomy France
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French Growth Falls to a Flat Zero
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Economist 08/13/2011
Italy's 2013 budget and deficits
05/14/2010
The impact on economic growth of austerity measures.
Grouped Articles
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
Wall Street Journal 05/14/2010
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
EU Won’t Reject French, Italian Budgets
Wall Street Journal 10/28/2014
European Union Blinks in Budget Battle With Italy and France
New York Times 10/28/2014
The IMF comes out on Spain's side in 2012 saying deficit reduction should have taken into account the weaker economic outlook
09/27/2011
The IMF in April 2012 says cuts in Spain may be too severe and cautioned that austerity measures could push Europe into recession.
Grouped Articles
Still Sputtering, Spain Turns Away From Cuts
Wall Street Journal 05/12/2013
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
German Optimism Depends On Spanish Deficits
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The 'Silent Austerity' in Banking
Wall Street Journal 01/21/2014
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
Spain's efforts to control regional spending
07/22/2010
Spain is a highly decentralized country with the central government in Madrid able to exercize little control on spending by the regions. The eurozone crisis and the higher than expected 8% deficit in Spain for 2011 is changing attitudes in the regions and in Madrid. The clause inserted in the constitution in 2011 with Germany's insistence for a balanced budget gives Madrid power to restrain spending. An agreement was reached with regional governments including Catalonia for new legislation on spending controls. Valencia was downgraded along with Spain in the recent downgrade of Spain's credit rating.
Grouped Articles
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
Rajoy Appeals to Catalonia to Stick With Spain
Wall Street Journal 09/23/2013
German Optimism Depends On Spanish Deficits
Wall Street Journal 09/25/2013
Spain: Budget Woes Hit Regional Governments
BusinessWeek 07/22/2010
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New York Times 04/23/2014
Madrid to Curb Spending by Powerful Regions
Wall Street Journal 01/18/2012
France's economy in 2010-2014
06/23/2010
The determination in France, as in Britain, to take austerity measures, and to cut the deficit.
Grouped Articles
France Goes Against the Euro-Zone Flow
Wall Street Journal 04/18/2013
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
France Says It Will Miss Budget Deficit Targets
Wall Street Journal 09/12/2013
German Optimism Depends On Spanish Deficits
Wall Street Journal 09/25/2013
S.&P. Downgrade Deals Blow to French Government
New York Times 11/08/2013
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
France's Finance Minister Lagarde on the discipline and coordination needed for the euro to work.
03/03/2010
This discipline and tight fiscal coordination would be imposed on eurozone countries as part of the effort to make the euro experiment work. Lagarde is interviewed by Carney and Jolis of the WSJ.
Grouped Articles
Wall Street Journal 03/03/2010
Charlie Rose Talks to Christine Lagarde
BusinessWeek 04/28/2010
Toward a United States of Europe
Wall Street Journal 12/18/2010
Wall Street Journal 12/20/2010
Wall Street Journal 01/14/2011
Europeâs Odd Couple: Sarkozy and Merkel
New York Times 01/13/2011
Allan Meltzer's soluton for the financial crisis facing euro currency countries Portugal, Spain, Italy, Ireland and Greece
05/26/2010
Meltzer says a new currency union should be setup for the northern countries France, Germany, and others who commit to financial discipline and fiscally binding arrangements. The euro currency countries such as Italy and Greece should devalue their currency to fix gaps between wages and productivity in their countries. At a later stage these countries could be readmitted to the new currency union under strict fiscally binding arrangements with enforceable sanctions.
Grouped Articles
Germany reaps rewards of entitlement cuts - The Washington Post
Washington Post 09/20/2011
New York Times 09/25/2011
New York Times 05/26/2010
Wall Street Journal 09/14/2011
IMF Chief's Change of Tune on Bank Capital
New York Times 09/14/2011
Austerity in Italy May Not End Its Jobs-for-Votes System
New York Times 09/14/2011
The euro-zone, the euro currency and the financial crisis in Ireland, Greece and other countries in 2009-2011
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Grouped Articles
Wall Street Journal 11/17/2010
In Euro Zone, Some See Risk of Currency Breakup
New York Times 11/17/2010
Fresh Loan Woes Buffet Irish Banks
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EU Plan for Ireland Takes Shape
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Ireland Crisis Might Give China Break It Seeks
Unknown 11/19/2010
Irish Grasp at EU, IMF Lifeline
Wall Street Journal 11/17/2010
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