EU Starts Debate On Budget Rules Amid High Debt Levels
The European Commission opened a debate on Tuesday on how to reform the EU’s fiscal rules to deal with a pandemic-induced surge in public debt and with the huge investment needed to fight climate change. “We are re-launching this review of our economic governance against a backdrop of enormous investment needs, as the climate emergency becomes more acute with every passing year,” European Economic Commissioner Paolo Gentiloni said. The debate is to produce a fourth reform of the rules since they were established in 1997 to limit government borrowing to safeguard the value of the EU’s currency, the euro.
Read more on CDE News