Brussels sets a spending path according to debt and leaves the 3% deficit ceiling
The European Commission has presented this Wednesday the general lines of its future reform of the fiscal rules, which mark how the fiscal path to which the member states will have to adhere will be set. Brussels proposes a path of net spending in the medium term that depends on the specific debt of each State for a horizon of four years, extendable to a maximum of seven. The public deficit limit is maintained at 3% and a whole battery of sanctions is proposed for countries that fail to comply with these new rules.
First, the financial crisis and, above all, the covid pandemic, have posed a real challenge for the Stability and Growth Pact and have led to questioning the suitability of continuing to maintain such strict rules in an environment such as the current one. The announced changes do not imply that bilateral agreements will be reached between the Commission and each Member State, but rather that each of the structural plans will have to receive the approval of the European Council.
*The article has been translated based on the content of lainformacion.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!
For all the latest news click here
Denial of responsibility! HOS is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – at firstname.lastname@example.org The content will be deleted within 24 hours.