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Deficit, debt: will the European totem of budgetary austerity be brought down by the crisis?

2020-09-24T12:09:52.985Z


ANALYSIS - Faced with the intransigence of the countries of the North, Paris once again called for a lasting “review” of the rules of EU economic policy.


One more attack by France against budgetary austerity.

In line with Emmanuel Macron, for whom the 3% deficit rule is "

a debate from another century

", the Secretary of State for European Affairs, Clément Beaune, has launched a new charge Tuesday.

He signified France's opposition to a return of the rules of budgetary discipline as they existed in the European Union before their suspension due to the Covid-19 crisis, last March.

"

One cannot imagine putting in place the same Pact

" of stability and growth (PSC), which sets these rules, he declared.

Do we need fiscal rules?

Certainly.

Should we review them?

Certainly too,

”he continued.

Read also: In 2021, Germany will still trample on its budgetary dogmas

This position taken by France is part of a broader context: in February, the Commission launched an “economic governance review” of the European Union.

This was provided for in the legislative packages dubbed "

six-pack

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Source: lefigaro

All business articles on 2020-09-24

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