German Finance Minister Christian Lindner said today that he does not think he can give his consent to the proposals of the European Commission to reform the European Union’s Stability and Growth Pact, which, he said, “still needs clear adjustments.”
“The European Commission’s proposals do not yet meet the requirements of the German government,” Mr Lindner said, adding that he could not accept proposals “that lead to a relaxation of existing fiscal rules.”
Clear adjustments are still needed, the minister added, and reaffirmed Germany’s position on “stable fiscal” and “sustainable economic governance” in the European Union.
He noted that the Pact must be strengthened, its rules must be clear and their implementation must be guaranteed.
Christian Lindner also stated that until new rules are introduced, existing ones should be applied and made it clear that in any case, the 3% of GDP rule for deficits and 60% for public debt, as well as the rules regarding the excessive deficit procedure.
Source: RES-IPE
Source: Kathimerini
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