2023-04-27 11:01:29
European Commission Vice-President Valdis Dombrovskis (left) and EU Economics Commissioner Paolo Gentiloni at a press conference in Brussels on Wednesday. KENZO TRIBOUILLARD/AFP
The Commission proposes a gradual budgetary consolidation without calling into question the existing rules.
Correspondent in Brussels
Another context, other rules and… safeguards. The European Commission on Wednesday presented the details of the reform of the stability and growth pact. As expected, its proposals mark a significant change in philosophy compared to the rules that previously prevailed and which have been suspended since 2020, due to the two successive shocks of the pandemic and then the war in Ukraine.
«Much has changed since the EU established its first budgetary rules in the 1990s. We live in a very different world than thirty years ago: different challenges, different priorities“, noted, during a press conference, Valdis Dombrovskis, the executive vice-president of the Commission.
Read alsoStability Pact: France still far from the nails
In view of the high levels of indebtedness, many Member States – 84% of GDP on average in the EU, 20 points more than in the early 2000s – it would have been inconceivable to maintain the old framework which has moreover…
This article is for subscribers only. You have 79% left to discover.
Want to read more?
Unlock all items immediately.
Already subscribed? Login
#Brussels #caught #Paris #Berlin