France and Germany announce agreement on reform of EU fiscal rules

Christian LindnerokChristian Lindner

“This evening we have 100% agreement with Christian Lindner on the new rules of the Stability and Growth Pact: excellent news for Europe, which will ensure sound public finances and investment in the future. Ecofin, tomorrow!”

With this message, the French Finance Minister, Bruno Le Maire, announced his agreement with his German counterpart, Christian Lindner, on the reform of the European Union’s fiscal rules on Tuesday evening (after 10 p.m.), following a meeting between the two in Paris, at the Ministry of the Economy.

The agreement may be ratified this Wednesday by the 27 EU member states, at the extraordinary meeting of European finance ministers (Ecofin) called by the Spanish Presidency of the EU to try to push through the reform of the fiscal rules before the end of the year. The differences in criteria between France and Germany were the piece the Spanish Presidency was missing to achieve its goal.

“I have just had a productive discussion with my friend Bruno Le Maire in Paris. We agree on the key elements of the fiscal rules: safeguards to reduce deficits and debt levels, incentives for reforms and investments. This is an opportunity to reach a political agreement at tomorrow’s Ecofin. CL”, the German finance minister also said on the social network X (formerly twitter).

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