Regling on the Stability Pact, raise debt / GDP ceiling to 100%

BRUSSELS - The

, returns to support the proposal made in recent months by a group of economists from the bailout fund to

while maintaining the current ceiling of the 3% for the public deficit and

.

"It is necessary to act on the Pact because in its current form it does not reflect the changed macroeconomic context", explains Regling in an interview with the German specialized magazine 'Zeitschrift für das gesamte Kreditwesen', highlighting that "in consideration of the

, the increase in the debt / GDP ceiling" is justified "and, despite what some observers fear, will not give governments" carte blanche "for an" irresponsible fiscal policy ". "The proposed change - continues the director general of the Mes - would be

. For all Member States,spending growth should generally not exceed the real GDP growth trend ".

Furthermore, "countries with debt levels above 100% of GDP should

, through a primary budget adjustment (excluding interest payments), unless the country is in recession or has an investment gap in the public sector, measured by objective and observable criteria. This mainly concerns

. The revision of the Stability and Growth Pact "is also a good opportunity to

, highlights the German economist, observing that "the countries of the euro zone have more interests in common than differences".