(ANSA) - ROME, NOV 9 - Economy Ministry sources said Thursdaythat Italy does not fear the return of the rules of the 'old'Stability and Growth Pact if it is the alternative to a"penalizing" revision of the EU's budget rules with additionaldeficit-reduction parameters under 3% of GDP.
The EU member States are current negotiating a reform of theStability Pact, which has been suspended since the COVIDpandemic exploded in 2020.
If they fail to reach an agreement, the old rules will come backinto force next year.
The sources said Rome does not fear the inclusion of averagedebt-reduction safeguard clauses in the new pact as along asthey are based on sustainable, credible values. (ANSA).
Old Pact better than 'penalizing' deficit rules
11/9/2023, 7:12:45 PM
Highlights: Old Pact better than 'penalizing' deficit rules. Rome does not fear inclusion of averagedebt-reduction safeguard clauses in the new pact. EU member States are current negotiating a reform of theStability Pact, which has been suspended since the COVIDpandemic exploded in 2020. If they fail to reach an agreement, the old rules will come back into force next year. The new pact will be based on sustainable, credible values, sources say. The old pact was signed in 1992 and has been in place ever since.
Economy Ministry sources said Thursday that Italy does not fear the return of the rules of the 'old' Stability and Growth Pact if it is the alternative to a "penalizing" revision of the EU's budget rules with additional deficit-reduction parameters under 3... © ANSA