European Parliament to green-light new EU spending rules, critics say it's economic disaster

Business Germany , 'frugal' allies wanted a quantifiable minimum effort to reduce public debt , budget deficits

EU negotiators finally reached agreement on the reform in February and now the European Parliament must give its final green light. It will become official once the EU's 27 member states endorse the text. There was widespread agreement that there could be no return to the old rules without changes to make them practicable, despite public debt ballooning across the bloc.

"This reform constitutes a fresh start and a return to fiscal responsibility at the same time," said Markus Ferber, an EU lawmaker for the parliament's biggest centre-right group, the EPP.

European Parliament Stability And Growth Pact Germany Public Debt Budget Deficits Debt Sustainability Budget Rules Fiscal Rules Trade Unions Austerity Europe Public Expenditure Green Transition

پاکستان تازہ ترین خبریں, پاکستان عنوانات

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