Berlin The Stability and Growth Pact is the basis for the cohesion of the euro. Nevertheless, there is agreement that the 25-year-old EU rules need to be revised. The direction in which the reform goes depends in particular on Germany’s position. After months of discussion within the federal government, Federal Finance Minister Christian Lindner has now presented a proposal.
Germany remains an advocate of the stability policy, emphasized the head of the FDP in an interview with the Handelsblatt. Therefore, the debt rules should remain in place. These allow member states to take on new debt of a maximum of three percent of gross domestic product each year and a total debt of no more than 60 percent.
Lindner wants to adjust the stability pact elsewhere. “We need a more reliable and ambitious path to deleveraging,” said the finance minister.
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