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ROME (Reuters) -Italy could use its veto to prevent the adoption of the European Union's new fiscal rules if the outcome of negotiations among partners does not meet its demands, Prime Minister Giorgia Meloni said on Wednesday. The bloc's Stability and Growth pact was suspended in 2020 due to COVID-19 and is due to return in an amended version next year, with Italy pushing to make it more lenient as opposed to demands from other members to enforce tough discipline. "I am not ruling out any of the options, I think we have to assess what is best for Italy," Meloni told the ...

European Union finance ministers will discuss changes to the EU's fiscal rules on Thursday and Friday to reach a deal, or at least bring positions closer, on a reform that offers countries tailor-made debt reduction paths and incentives to invest. The EU has a common currency - the euro - and the European Central Bank takes responsibility for a common monetary policy, but the bloc has no common fiscal policy. The fiscal rules, which limit government borrowing, are to ensure governments observe a common set of fiscal principles to prevent any irresponsible borrowing by one creating probl...

Sir Keir Starmer has signalled that he may not meet a flagship pledge to invest £28 billion a year in green projects within his first five years in Number 10, should Labour win power at the next general election.

A country investing in cross-border EU defence projects should be given more time to cut its public debt under EU fiscal rules, the head of the European Commission said on Thursday. The fiscal rules are under revision and such a change would go beyond what has so far been agreed among governments, which only want to grant defence spending the status of a "relevant factor" when the Commission assesses whether a budget deficit is within EU limits. Commission President Ursula von der Leyen said at an annual conference of the European Defence Agency that if such a rule were introduced ...

Jeremy Hunt, the Chancellor, doesn’t like to admit it, but today’s way above target inflation has for him proved a blessing in disguise, riding to his rescue in last week’s Autumn Statement by giving the Government scope both to cut National Insurance contributions and make big tax breaks for investment spending permanent.