Home World The 27 agreed on the new budget rules on debt and deficit

The 27 agreed on the new budget rules on debt and deficit

The 27 agreed on the new budget rules on debt and deficit

The ministers of EU economy and finance This Wednesday they reached a political agreement on the new Deficit and debt control rules, This will give countries more leeway to determine their pace of adjustment and include minimum requirements for fiscal discipline, as confirmed by European sources.

The pact, sealed during a video conference, only became possible later Germany and FranceThey reached an agreement the day before on the broad outlines of the reform of the Stability and Growth Pact, allowing Spain to achieve one of the major goals it had set itself Presidency of the Council of the European Union.

After being frozen for four years by the pandemic, the economic and finance ministers of the European Union reached a political agreement this Wednesday. The pact was then forged almost two hour video conference meeting and after months of discussions about the governance framework.

At this Wednesday’s meeting, Italy withdrew its objections to this more fiscal space to drive ecological change The path to agreement on 27 is clear, European sources confirmed to Europa Press.

In a message on social networks, the Spanish Presidency celebrated what it said was “another historical milestone“during the Spanish semester. The governance agreement “ensures stability and growth” and underlines that the rules are “balanced”, “realistic” and “adapted to current and future challenges”.

The new rules “will provide certainty.” financial markets and will strengthen trust in European economies,” emphasized First Vice President and Minister of Economy, Trade and Commerce Nadia Calviño, who highlighted the leadership of the Spanish Presidency in adopting the new governance framework.

On the Dutch side, Finance Minister Sigrid Kaag has claimed that the regulations are a “solid foundation for state budgetsHe insists the agreement advances “ambitious and sustainable debt reduction” while promoting reforms.

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