2023-11-09 20:51:28
Christian Lindner, German Minister of Finance, and Bruno Le Maire, Minister of the Economy, on May 24, in Brussels. Olivier Matthys / AP
France has given in to the German demand for a quantified criterion for reducing the debt of States beyond the nails.
After months of deadlock, negotiations on the reform of the euro zone’s budgetary rules have resumed with full speed. In the home stretch, the twenty-seven finance ministers, meeting Thursday in Brussels, demonstrated “a very constructive approach with the desire to reach an agreement before the end of the year », welcomed Nadia Calviño, the Spanish minister in charge of the presidency of the Council of the European Union. She led around fifty unofficial meetings over the last two weeks to achieve this turnaround. “Like the pilgrims to Compostela, we begin to see the cathedral at the end of the path,” she rejoiced.
This involves establishing new rules on the deficit and debt of members of the euro zone to replace the Maastricht criteria, unanimously considered obsolete, and suspended since the start of the Covid pandemic in 2020. A complex and politically charged, while the rules…
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