It's been a problem for more than 20 years, but the EU is finally looking at how to update its rules on government spending.
The European fiscal rulebook has divided northern and southern Europe since the laws were established in 1993. Southern nations argue that the rules are too complex to implement, and northern countries believe the problem is a lack of enforcement rather than the rules themselves.
The EU's fiscal rules were revised in 2011 to step up surveillance in the aftermath of the sovereign debt crisis."The challenge is to promote a more active fiscal policy towards growth," Gentiloni told CNBC, as the EU faces sluggish economic prospects and, potentially, a less active monetary policy.for a member state reached 85.9% in 2018 across the euro zone, according to the latest data from the European statistics office.
European governments, including Italy's, believe that countries should be allowed to spend more to boost their economies. More fiscally-prudent countries, such as The Netherlands, disagree with any relaxation of the rules. "Any steps that end up simplifying the monstrous complexity of the EU's fiscal rulebook are welcome. Simplification would de-politicise the process of consultations over annual budgets and medium-term plans, and would, consequently, facilitate the rulebook's enforceability," he said via email.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
France says Britain and EU must have common rules to protect single marketBritain will need to adopt EU rules if it wants friction-free trading access to ...
Consulte Mais informação »
Brexit trade deal clash: UK and EU begin sparring over rulesThe EU and Britain clashed over a post-Brexit trade deal with Prime Minister Boris Johnson insisting he need not sign up to the bloc’s rules and Brussels warning of tariffs and quotas unless he did
Consulte Mais informação »
Brexit trade deal clash: UK and EU spar over rules'We must now agree on specific and effective guaranties to ensure a level-playing field over the long term,' EU's Michel Barnier said about a post-Brexit trade deal with Britain
Consulte Mais informação »
Merkel prepared for EU treaty changes as Brexit requires bloc to be more competitiveGerman Chancellor Angela Merkel said on Monday she would be prepared to back cha...
Consulte Mais informação »
Factbox: UK's Johnson wants 'suite of agreements' to cover post-Brexit EU tiesBritain set out the type of deal it wants to agree with the European Union on Mo...
Consulte Mais informação »
Boris Johnson Is Already Battling With The EU Over Post-Brexit Trade TalksBritish Prime Minister Boris Johnson and the EU's chief Brexit negotiator delivered clashing speeches on Monday. A rough ride could be ahead when both parties sit down later this year to thrash out their future relationship.
Consulte Mais informação »