MNI BRIEF: No EU Deal Yet On Fiscal Rules As Talks Stall
European Finance ministers fail to agree new deal on fiscal rules in late night Brussels talks.
EU finance ministers failed to reach a deal in negotiations over new EU fiscal rules in late night talks Thursday that continued until early in the morning, sources said.
The most important stumbling block remains intact - a split between France and Germany over whether to define an excessive deficit based on the primary or structural budget balance, an important distinction for France which may well face an Excessive Deficit Procedure next year.
Sources said talks would continue in coming days and there is talk of finance ministers meeting again following the EU summit on December 13-15 where leaders may issue guidance to the ministers.