Financial Digest

EU eyes longer debt reduction paths in rules review

  • 📰 rtenews
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 99%

Finance Finance Headlines News

The European Commission has proposed changes to the EU's onerous debt rules that would allow member states to negotiate their own debt reduction path, using the carrot of more flexibility if governments introduce reforms and investment

The Irish Government is understood to be supportive of the measures, which will form part of the eagerly awaited overhaul of the EU's fiscal and debt rules.

The Commission proposal kicks off a process to reform the so-called Stability and Growth Pact , which aims to manage member states' debt and deficit situations. The overhaul of the SGP comes following a consultation period involving national capitals, EU institutions, citizens groups and academics. The four years could be extended to seven, if the extra time was justified by investment and reforms.

Today’s communication, which is not yet a legislative proposal, would have"more ownership and is more realistic", says one official.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European shares at seven-week peak as travel stocks shineEuropean shares at seven-week peak as travel stocks shine via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »