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MNI BRIEF: Commission Proposes More Flexible EU Fiscal Rules

(MNI) Brussels

More EU member-state input on reducing excessive debt would be balanced by tougher enforcement under Commission proposals.

European Commission proposals for reforms of the European Union’s fiscal rules will allow excessively indebted member states more say over designing fiscal trajectories while toughening up enforcement measures, the Commission said on Wednesday.

Under the plan, the Commission would propose four-year plans for reducing excessive debt and budget deficits running above 3% of gross domestic product. Member states could also propose longer adjustment periods, of up to seven years, including commitments for reform and investment to promote debt sustainability, the Commission said.

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European Commission proposals for reforms of the European Union’s fiscal rules will allow excessively indebted member states more say over designing fiscal trajectories while toughening up enforcement measures, the Commission said on Wednesday.

Under the plan, the Commission would propose four-year plans for reducing excessive debt and budget deficits running above 3% of gross domestic product. Member states could also propose longer adjustment periods, of up to seven years, including commitments for reform and investment to promote debt sustainability, the Commission said.

Keep reading...Show less