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MNI BRIEF: EU Fiscal Rules Proposal Seen Pushed Back To Nov 2

(MNI) Brussels

Publication of the EU Commission’s Orientation Paper on fiscal rules reform could be further delayed to Nov 2 from Oct 26, officials told MNI.

It would be “materially difficult” for the Commission to be ready for publication of the paper by next week, one official said.

The Orientation Paper is likely to suggest replacing the EU’s current 1/20 rule for high-debt states, which obliges them to reduce excess debt over the maximum permitted 60% of GDP by 5% each year, with customised plans which could significantly extend the timeframe for such reductions. (See MNI: Commission Favours More Time To Cut Debt- EU Officials)

MNI Brussels Bureau | david.thomas.ext@marketnews.com
MNI Brussels Bureau | david.thomas.ext@marketnews.com

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