Member states will be permitted more leeway in reducing public debt, the European Commission announced on Wednesday (8 March).
But trade commissioner Valdis Dombrovskis told press that with energy prices in retreat, the time for "broad-based fiscal stimulus has passed."
"The EU economy has recovered beyond its pre-pandemic level. It is time to shift gears, and our emphasis should turn to improve debt sustainability," he said.
Existing EU fiscal rules limited public deficit...
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? LoginWester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.
Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.