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Free AccessGerman 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."
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.