2023-12-19 21:33:34
The EU economics and finance ministers want to reach an agreement on new EU debt rules in a video conference on Wednesday from 4 p.m. Finance Minister Magnus Brunner (ÖVP) advocates “strict, enforceable and clearly defined debt rules”. If no agreement is reached between the countries and with the EU Parliament by the end of the year, the rules that previously applied will come into force once more. These were relaxed due to the crises.
In advance, Eurogroup boss Paschal Donohoe met Finance Minister Brunner in Vienna on Monday. Donohoe said following the conversation that we are “close to reaching an agreement” on reform, although there is still a lot to do. “Excessive deficits must not be relativized or excused,” added Brunner. According to Archyde.com, his German counterpart Christian Lindner traveled to Paris at short notice on Tuesday to clarify outstanding points with France’s Finance Minister Bruno Le Maire.
According to the proposals discussed, the EU states should in future present national plans with measures to reduce debt – designed for four years, and in exceptional cases for seven years. This would give member states more leeway and time to consolidate their budgets. The Maastricht upper limits of a maximum of three percent budget deficit and 60 percent total debt remain unchanged. Safety lines required by Austria and Germany, i.e. quantitative targets, are intended to ensure sufficient debt reduction.
1703025542
#Video #conference #finance #ministers #debt #rules
