Filenews 11 September 2021 - byTheano Thiopoulou
The considered hardcore countries, mainly in the North of Europe, are beginning to show their teeth for Europe's fiscal rules after the pandemic, as is evident on the occasion of yesterday's informal Eurogroup and Ecofin meetings in Slovenia.
Yesterday the "F" had written that in Friday's meeting it would be seen whether some northern countries, which have long wanted a more conservative fiscal policy, will slowly start pulling out the knives, in terms of state spending during the coronavirus. According to yesterday's publication of "Naftemporiki", a few hours before the start of the summit in Berda, Slovenia, the... 'thrifty' of Europe.
Eight countries in the North of Europe made sure before the summit to send out a common message on the reform of the Stability Pact. It is a document that was circulated at dawn on Friday (published in part of it by "N") and is co-signed by the finance ministers of Austria, Denmark, Latvia, Slovakia, the Czech Republic, Finland, the Netherlands and Sweden. The document stresses that the eight Northern countries are open "to the debate on improving economic and fiscal governance, but only on simplifications and adjustments that favour consistent, transparent and better implementation, as well as enforcement of the rules".
The 'eight' even add that 'the reduction of excessive debt ratios must remain a common objective .... Fiscal sustainability, combined with reforms that support economic growth, must remain the basis." They warn that "the deactivation of the general escape clause and a possible reform of the Stability and Growth Pact should not be linked", noting that there should be no rush.
