If European Union (EU) member states fail to agree on new rules on public finance to replace the old ones set out in the original Stability and Growth Pact the latter will come back into force, European Commissioner for Economy Paolo Gentiloni said on Wedn...
- ROME, NOV 8 - If European Union member states fail to agree on new rules on public finance to replace the old ones set out in the original Stability and Growth Pact the latter will come back into force, European Commissioner for Economy Paolo Gentiloni said on Wednesday.
If, on the other hand, no agreement is reached"the previous rules will return into force", he added. Established in 1997 to protect the value of the euro, the fiscal rules set out under the Stability and Growth Pact were suspended in 2020 to allow EU member states to best tackle the economic fallout of the Covid 19 pandemic pending their review.
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