Free Trial

MNI BRIEF: Return To Old Fiscal Rules  Undesirable: EFB

(MNI) LONDON
BRUSSELS (MNI)

The chair of the European Fiscal Board – which advises the EU Commission on fiscal policy – said Wednesday that it would be "undesirable and dangerous" for the EU to return to an unreformed Stability and Growth Pact when the current Escape Clause expires in 2023.

The key element of reform of the rules would be to move to a more realistic pace of debt reduction. Any new rule for reducing debt in high-debt countries needed to be "effective, implementable and credible in the markets," Niels Thygesen said at a press briefing.

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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.