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MNI BRIEF: Fiscal Rules Essential For Stability - EU Draft Doc

(MNI) Brussels

Euro Area leaders will say fiscal rules are “essential” for policy coordination and for the support of economic resilience and stability in the euro area, according to an updated draft of the October 27 summit communique.

Talks among EU finance ministers on reforming the bloc’s fiscal rules remain at an impasse with little sign of a landing zone emerging between Germany and the southern EU states. The draft also notes that – while euro area economies are continuing to grow – this is at a “reduced momentum.”, but states that “inflation remains a key concern and it is essential that the disinflation process continues.”

The euro summit on Friday will be attended by ECB President Christine Lagarde and Eurogroup Chair Paschal Donohoe.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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