World Business News

A round up of the latest news for those doing business internationally

Europe round-up

Zone(s): Europe ¦ Sector(s): Trade, Economy
[20 June 2014, Public Finance International]  This article provides a round-up of recent public finance stories from Europe you might have missed.

  • No need to change Europe’s budget rules, says Merkel: German Chancellor Angela Merkel said she sees no need to change Europe’s budget rules after her economy minister suggested that countries be given more time to get their finances in order. (Channel News Asia)
  • IMF questions Irish hopes of ditching austerity after 2015: The International Monetary Fund questioned Ireland’s plans to end eight years of austerity with one more tough budget next year, saying more measures would be needed to meet a requirement of balancing its budget by 2018. (Reuters)
  • Greek PM Samaras pledges social relief, not more austerity: Greek Prime Minister Antonis Samaras has repeated his pledge to never again impose austerity measures – although cuts are being made to pensions in some cases – and said instead he will move toward cutting taxes and providing relief for those most affected by big pay cuts, tax hikes, slashed pensions and worker firings. (Greek Reporter)
  • Loosen EU budget rules in return for support, Socialists tell Juncker: Europe’s centre-left forces are warning that Jean-Claude Juncker will have to support a loosening of the EU’s budgetary rules in exchange for their backing him for the European Commission presidency. (EU Observer)
  • Shift emerges in Europe on focus on austerity: France and Italy, still struggling to meet the eurozone’s tough budget targets, may be gaining support for an effort to relax the rules. (NY Times)

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