European Commission to propose more flexible spending rules ...Qatar

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European Commission to propose more flexible spending rules
source : Gulf Times ( Qatar ) () 16
The European Commission will propose reforms to European Union (EU) fiscal rules tomorrow, hoping to strike a new balance between allowing members to invest to beat the slowdown while bolstering scrutiny of public accounts. EU economy commissioner Paolo Gentiloni has said that now is the time to act on the issue. The EU’s Stability and Growth Pact seeks to put a lid on how much the bloc’s member states can borrow, but was suspended in early 2020 to prevent the European economy crumbling under the Covid pandemic. Rather than see the EU slip into a historic recession, Brussels allowed deficits to pile up. But now the storm has passed and — despite added pressures on Europe from Russia’s war i

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