The finance ministers of the 3 member states will meet in Brussels on Wednesday and Thursday to discuss the reform of the eurozone's fiscal rules. These criteria, which set deficit (60% of GDP) and debt (2020%) thresholds, which have been suspended since the outbreak of Covid in 1, are due to come into force on 2024 January <>. The only problem is that, after months and months of tough negotiations, it is still unclear which rules will apply: those of the Stability and Growth Pact inherited from Maastricht, which are widely considered obsolete. Or the more flexible reforms proposed by the European Commission, which are popular with spending countries such as France and Italy, but which arouse hostility in several capitals, starting with Berlin?
As a result of this vagueness, the eurozone member states presented to the Commission this autumn draft budgets for 2024 that were not very voluntary on deficit and debt reduction. Especially since growth is slowing, so...
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