Negotiators from the European Parliament and the Council reached an agreement on the reform of the Stability Pact. The European Chamber gets a little more space for public investments and more margins to deviate spending paths in the event of exceptional circumstances.
The new rules will start immediately: the States will have to present the first four-year spending plans, extendable up to seven, by 20 September. To make room for investments, the EP has obtained that national expenditure relating to the co-financing of projects financed by the EU be separated from the overall calculation of public expenditure.