The Limited Times

Now you can see non-English news...

Paris calls for a "transition" on the rules of the euro

2021-12-06T19:16:59.417Z


The boss of the IMF supports a relaxation of the budgetary criteria of the stability pact. Suspended since the start of the pandemic, the budgetary rules on debt and deficit in the euro zone will remain so in principle until the end of 2022. But France is already calling for a "transition" at the end of this period, if a new fiscal framework has not been adopted by then. The emergency suspension clause has allowed public spending to explode in the name of “whatever the cost”. In the me


Suspended since the start of the pandemic, the budgetary rules on debt and deficit in the euro zone will remain so in principle until the end of 2022. But France is already calling for a

"transition"

at the end of this period, if a new fiscal framework has not been adopted by then.

The emergency suspension clause has allowed public spending to explode in the name of “whatever the cost”.

In the meantime, the debate has started on the reform of these rules fixing at 3% of the GDP the level of deficit of the Member States of the euro zone and at 60% their indebtedness.

Even before the crisis, Emmanuel Macron called them

“debates from another century”.

However, debt levels have since jumped to 100% on average in the euro zone, 116% for France or nearly 160% for Italy.

"Cramer the cash register"

France intends to advance this reform during its presidency of the Council of the European Union, in the first half of 2022. While we have been cautious for a long time in Paris on this explosive subject, it is now estimated that there is

This article is for subscribers only.

You have 78% left to discover.

To cultivate one's freedom is to cultivate one's curiosity.

Continue reading your article for € 1 the first month

I ENJOY IT

Already subscribed?

Log in

Source: lefigaro

All news articles on 2021-12-06

You may like

Trends 24h

News/Politics 2024-03-27T16:45:54.081Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.