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Vice president Valdis Dombrovkis said countries would have "no excuse for failing to deliver" under the new proposal (Photo: European Commission)

Frugals on top in new EU proposal on debt rules

The EU Commission's proposed new debt rules give capitals more power over their own spending, but still envisage tough fines for profligates.

That was the gist of ideas for a more flexible approach to debt put forward on Wednesday (26 April).

The changes would give member states more "ownership" of the regime, which should lead to "greater compliance," commission vice president Valdis Dombrovkis said in Brussels.

"It is under [member state] control, so there are no excuses ...

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Author Bio

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.

Vice president Valdis Dombrovkis said countries would have "no excuse for failing to deliver" under the new proposal (Photo: European Commission)

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Author Bio

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.

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