2023-12-20 20:52:54
Bruno Le Maire, Minister of the Economy and Finance, received his German counterpart, Christian Lindner, in Bercy on December 19. Ministry of Economy/Video Capture
STORY – The Twenty-Seven agree on a reform of the stability pact, introducing more flexibility but also “safeguards”.
It was not exactly the spectacular demonstrations of yesteryear by farmers against CAP (common agricultural policy) quotas, pouring torrents of milk or mountains of manure in front of the Commission in Brussels. Nevertheless, some 5,000 people, according to the police – Belgians, French, Spanish, Italians – mobilized on December 12 in Brussels against the return of austerity in Europe, at the call of the European Trade Union Confederation ( THESE). The object of their ire: the return of rules on the deficit and debt in the euro zone from January 1, 2024.
After almost four years of suspension of the Stability and Growth Pact, the Twenty-Seven finally agreed on Wednesday on a reform to modernize it, during an extraordinary meeting of Finance Ministers by videoconference. After an explosion in debt during the Covid crisis, the time has come to pay the bill “whatever it costs” .
Also read: France soon to undergo excessive deficit procedure
The famous Maastricht criteria, which…
This article is reserved for subscribers. You have 87% left to discover.
Do you want to read more?
Unlock all items immediately.
Already subscribed? Log in
#Germany #France #bend #strict #budgetary #rules #euro #zone