Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

'Macron-economy' pun already worn out

Read more

DEBATE

What Next for Gaza? Lasting Ceasefire Agreed After 50 Days of War (part 2)

Read more

DEBATE

What Next for Gaza? Lasting Ceasefire Agreed After 50 Days of War

Read more

FOCUS

Video: Milan is starting point for Syrian refugees’ European odyssey

Read more

MIDDLE EAST MATTERS

Terrorist ransoms: Should governments pay up for hostages?

Read more

ENCORE!

Kristen Stewart and Juliette Binoche star in 'Clouds of Sils Maria'

Read more

WEB NEWS

India: journalist launches "Rice Bucket Challenge"

Read more

WEB NEWS

Russian aid convoy: Mission accomplished?

Read more

WEB NEWS

Actor Orlando Jones lauches 'Bullet Bucket Challenge'

Read more

  • Mother of American journalist asks IS leader for his release

    Read more

  • UN probe accuses Syrian regime, Islamists of ‘crimes against humanity’

    Read more

  • French unemployment rises 0.8% in July to record high

    Read more

  • France’s Hollande puts young ex-banker in top economy post

    Read more

  • Video: Iraq’s Yazidis flee to spiritual capital of Lalish

    Read more

  • Video: Milan is starting point for Syrian refugees’ European odyssey

    Read more

  • Airstrikes and Assad - Obama’s military conundrum in Syria

    Read more

  • IMF’s Lagarde investigated in French corruption case

    Read more

  • American journalist held captive in Syria arrives in US

    Read more

  • In pictures: The ministers in France's new government

    Read more

  • 'Lasting' ceasefire agreed for Gaza, Abbas says

    Read more

  • Far-right ‘Russian Jihad’ fighters cross into Ukraine

    Read more

  • Rebels 'shoot down' UN helicopter in South Sudan

    Read more

  • Air France pilots threaten September strike

    Read more

  • WHO seeks stricter regulation for e-cigarettes

    Read more

Europe

Commission wants EU states to submit their budgets for ‘review’

Text by News Wires

Latest update : 2010-05-12

The European Commission sought unprecedented power to pre-vet member state's national budgets before they are implemented. Sweden has already indicated it opposes the proposed "peer reviews".

AFP - The European Commission on Wednesday proposed that European countries submit their national budgets to Brussels for "peer review" before they go to their national parliaments.
   
"An early peer (review) of fiscal policies would help shape a fiscal stance for the EU and the euro area as a whole," a commission statement said.
   
"A synchronised assessment and coordination of both fiscal and structural policies at European level would help the member states to pursue common objectives and address joint challenges more efficiently than presently (is) the case."
   
"The package concerns the whole EU but this specific proposal has more bite concerning the euro area countries," EU Economic and Monetary Affairs Commissioner Olli Rehn told a press conference.
   
His spokesman confirmed to AFP that the plans would apply to all 27 European Union members, thereby creating an early headache for new British Conservative Prime Minister David Cameron.
   
Under the terms of a power-sharing agreement struck with the Liberal-Democrat party, a key Conservative demand was that any further transfer of powers from Britain to Europe must be approved by a referendum.
   
Britain jealously guards its fiscal sovereignty and its eurosceptics will see this as the latest example of Brussels seeking to encroach on the British parliament's territory.

Swedish Prime Minister Fredrik Reinfeldt said Wednesday he opposed  the proposed controls, saying it was "strange" they should concern countries with good public finances like Sweden.

Date created : 2010-05-12

COMMENT(S)