Scholz And Meloni Signal Progress On 2024 Budget Rules

German Chancellor Olaf Scholz and Italian Prime Minister Giorgia Meloni, speaking at a press conference following an intergovernmental summit in Berlin, have signalled progress in budget talks with Scholz stating, there is a will to pass a 2024 budget "speedily."

• Per Reuters, Meloni said: "on new euro zone budget rules, we are making progress day by day in a negotiation that is not easy."
• Scholz said: "Expect we will achieve deal on European Stability Pact soon."
• Asked if 2024 budget will pass, Scholz said he thinks it, "correct to check carefully impact of court ruling on budget... There is the will to pass 2024 budget speedily but not in haste."
• Reuters reported this week: "The Stability and Growth Pact, are now under review and the 2024 draft budgets are assessed using criteria that governments agreed on earlier this year, some of which are likely to become part of the revised EU fiscal rules," noting that Italy's draft budget only "partially" complied with measures.
• According to Reuters, "the Commission also said that while Italy was winding down some 1% of GDP in energy support, it planned to spend it, rather than cut the deficit, as agreed by EU finance ministers."