Finance ministers from the 16-member euro area rejected on Monday night (8 June) French proposals to weaken the budget deficit rules that underpin the common currency area and reconfirmed their support in the European Commission as the principal watchdog.
"We all agreed that the [European] Commission has to be the guardian of the Stability and Growth Pact," Spanish Finance Minister Elena Salgado Mendez said of the rules while speaking to journalists in Luxembourg after the meeting.
...Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? Login