High Euroscepticism in Serbia: Many Unwilling to Join the EU
According to a recent survey by the Washington-based International Republican Institute, Serbian citizens exhibit the highest level of Euroscepticism in the Western Balkans
Five European member countries exceeded the maximum budget deficit allowed by the EU.
France, Spain, Great Britain, Greece, and Ireland have reached levels of budget deficit higher than 3% of GDP for 2008, the European Commission (EC) reported.
The EC will demand those countries to return the money into their budgets. Otherwise they risk Euro Zone's stability. Recommendations are yet to be submitted for approval from European Union finance ministers.
"To limit the costs of the debt for generations present and future, it is crucial that governments ... commit to correct public deficits from the moment the economy starts to recover, which is expected to happen gradually in 2010", Economic Affairs Commissioner, Joaquin Almunia, said.
The Commission has said it would follow EU rules in starting disciplinary steps against countries exceeding the 3 percent limit, but would be flexible in setting deadlines for reining in the gaps because of the severity of the crisis.
According to the UK government the money can be returned without risk until 2013-2014 at earliest. Greece promised budget deficit to fall under 3% of GDP in 2010. Ireland, France, and Spain have put 2012 as a deadline.
National Budget deficits of most countries have started increasing due to the financial crisis, which has led to fall in taxes income, and growth in social spending on the other hand.
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In April, inflation across the European Union remained steady, with both the EU and the Eurozone recording a rate of 2.6% and 2.4%, respectively, according to data from Eurostat, the official statistics agency of the EU
Julian Voinov, an economist and financial expert, expressed optimism regarding Bulgaria's potential adoption of the euro in 2025 or early 2026
This was stated by the Governor of the Bulgarian National Bank at the international conference "Bulgaria in the Eurozone, When?" in Sofia
Former Finance Minister Simeon Dyankov has suggested that Bulgaria's potential entry into the Eurozone may not materialize before 2026
In the initial quarter of 2024, Bulgaria's economy expanded by 0.4%, as per an expedited evaluation by the National Statistical Institute (NSI), a slight deceleration from the 0.5% growth witnessed in the final quarter of the preceding year
According to Levon Hampartzoumian, the likelihood of Bulgaria joining the Eurozone in 2025 is very slim, as no country has ever entered during the middle of the year
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU