Eurozone Watch

Today, the European Commission presented further ideas for the reform of economic governance in the EU and EMU. The package contains six legislative proposals, including a second reform of the Stability and Growth Pact (SGP) and macro-economic coordination (see here). With the media having reported some of the elements during the days before the presentation, coverage in online media today was rather weak with general mainstream media hardly covering the proposals at all. Attention is focused on the rather evident parts of the package such as tougher fines for fiscal sinners, enhanced deficit surveillance and changes in the voting mechanism to actually fine a country.

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