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MNI BRIEF: EU Nears Fiscal Rules Deal, EDP A Block - Lindner

(MNI) Rome

European Union finance ministers have made progress towards a possible deal on a new set of fiscal rules, but France and Germany remain split on how to measure excessive budget deficits, German Finance minister Christian Lindner told reporters as he arrived in Brussels for talks with other finance ministers. (MNI: Talks Turn Tough Ahead Of Dec 8 EU Fiscal Rules Meeting)

Lindner noted that it had always been agreed that the excessive deficit procedure would remain in any new fiscal rules. However, he agreed with French finance minister Bruno Le Maire that both countries are agreed on 90% of their position on the reform of the Stability and Growth Pact but stressed that he was not convinced that a change in the EDP was necessary.

The split between France and Germany over how to measure deficits for the purpose of enforcing the excessive deficit procedure is the biggest remaining obstacle to agreement. France is insisting on using the primary budget balance which excludes interest payments while Germany wants a structural measure.
MNI Rome Bureau | +34-672-478-840 | santi.pinol.ext@marketnews.com
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MNI Rome Bureau | +34-672-478-840 | santi.pinol.ext@marketnews.com
Policy NewsHomepageFiscalGovernment sectorCEEMEAEurozoneBriefStoryRegion
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