German Fin Min-"Need Credible New EU Fiscal Rules", "Must Come By End-Year"

Wires carrying comments from German Finance Minister Christian Lindner, speaking at the IMF/World Bank meeting in Marrakesh, Morocco. States that "We need credible European fiscal rules, [the] old rules were not precise or realistic enough." Adds that the "Deficit target must be significantly below 3%.", and that Germany is "insisting that new rules must be decided by the end of the year."

• There has been significant difficulty in getting progress on reforming EU fiscal rules, with the upcoming meeting of finance ministers on 17 Oct seen as a potentially crucial moment as they ponder new proposals from the Spanish presidency.
• On 10 Oct, MNI's Policy team interviewed Director-General of the Directorate-General for Economic and Financial Affairs at the European Commission Marco Buti. The architect of the Commission's proposals for a new fiscal regime called for swift acceptance amid geopolitical instability and a bond market sell-off. See full story here.