Budget policy: EU Commission rejects Lindner

Federal Finance Minister Christian Lindner

The federal government had proposed that highly indebted euro countries be subject to a uniform minimum requirement for annual debt reduction.

(Photo: dpa)

Berlin, Brussels The German proposal to reform the EU debt rules has been on the table for almost two weeks. Now there is the first reaction from Brussels – and it is skeptical. For example, the EU Commission does not want to take up the central demands of the Federal Government for the reform of the Growth and Stability Pact in its draft law.

The federal government had proposed that all heavily indebted euro countries be subject to a uniform minimum requirement for annual debt reduction. However, EU Commission Vice President Valdis Dombrovskis is skeptical that such an approach would work.

“We’re looking at the proposal,” Dombrovskis told Handelsblatt. In principle, however, the Commission wants to “give the heavily indebted countries more personal responsibility – combined with stricter enforcement of the common rules.” Generally applicable guidelines for debt reduction therefore do not fit into the Brussels concept.

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