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MNI: Euro Ministers To Signal Tighter Fiscal Stance- Officials

(MNI) Brussels

Rising inflation is pushing eurozone ministers towards a stricter view of public spending.

Eurozone finance ministers are likely to signal a tighter fiscal stance for the bloc at a key meeting in July, offering support to European Central Bank efforts to contain inflation but still allowing leeway to member states for targeted measures to alleviate the impact of higher prices on consumers and businesses and to maintain long-term investment plans, EU officials told MNI.

The EU’s official fiscal guidance was last reviewed by ministers in March and by the European Commission in May, when the stress was on the need for a neutral stance after the expansionary policies in response to the Covid pandemic.

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Eurozone finance ministers are likely to signal a tighter fiscal stance for the bloc at a key meeting in July, offering support to European Central Bank efforts to contain inflation but still allowing leeway to member states for targeted measures to alleviate the impact of higher prices on consumers and businesses and to maintain long-term investment plans, EU officials told MNI.

The EU’s official fiscal guidance was last reviewed by ministers in March and by the European Commission in May, when the stress was on the need for a neutral stance after the expansionary policies in response to the Covid pandemic.

Keep reading...Show less