German Fin Min To Meet w/French Counterpart Ahead Of ECOFIN Summit

German Finance Minister Christian Lindner will travel to Paris today for talks with his French counterpart Bruno Le Maire ahead of tomorrow's virtual informal ECOFIN council meeting of EU economy and finance ministers. The ministers for the EU's two largest economies sit on opposite sides of the argument regarding reforms to EU fiscal rules. Lindner and the other 'frugal' ministers are calling for stricter stipulations on debt and deficits, while Le Maire and other southern ministers are in favour of a less rigid approach.

• Following the 7-8 Dec ECOFIN meeting, Le Maire said that the two sides are in agreement on '95%' of issues, while Lindner said "Unlike a few months ago, it is now widely accepted that we need clear safety lines for the deficits and for debt reductions,"
• Reuters: "Analysts said a deal soon on EU fiscal rules would be a victory for Lindner, leader of Germany's fiscally conservative Free Democrats, as the current EU proposal broadly reflects Berlin's position. "Ultimately the German position, or I should say Lindner's position, has prevailed for the most part," said Marcel Fratzscher, president of the economic institute DIW Berlin."