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The EU hopes to move towards healthier public finances after the expected passage of reforms to the bloc's spending rules on Tuesday in the European Parliament. EU negotiators finally reached agreement on the reform in February and now the European Parliament must give its final green light.
Germany, 'frugal' allies wanted a quantifiable minimum effort to reduce public debt, budget deficits
If a country’s deficit is above 3% of GDP, it would have to be reduced during periods of growth to reach 1.5% and build a spending buffer for difficult economic conditions
Clear rules, clear enforcement and a reasonable balance between reducing excessive debt and allowing for investments: that was the EPP Group's compass when shaping the new fiscal rules for EU Member States. "This reform...
MEPs approved a revamp of EU fiscal rules making them clearer, more investment friendly, better tailored to each country’s situation, and more flexible.