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The Dutch minister of finance Wopke Hoekstra is one of the signatories of the letter. (Photo: Council of the European Union)

'Frugals' renew effort to reduce excessive debt

Finance ministers of eight EU member states released a signed letter on Friday (10 September) calling for a renewed effort to "reduce excessive debt" among member states.

It is the starting point for renewed debates on fiscal policy in Europe, specifically on the fate of the so-called Stability and Growth pact.

The Stability and Growth pact is a disciplinary rule that limits spending by member states. It entered into force in 1998, and it prohibits countries from running a defic...

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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.

The Dutch minister of finance Wopke Hoekstra is one of the signatories of the letter. (Photo: Council of the European Union)

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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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