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EU debt rules

France: Barnier plans spending cuts and tax increases

Prime Minister Michel Barnier wants to cut public spending and introduce a special tax for large companies and wealthy households. The Commission will formulate its recommendations as part of the excessive deficit procedure in November.

By Claire Stam

Exception to debt rules strengthens EU programs

The EU Council and Parliament have agreed on a provision that gives states more leeway within the framework of cohesion programs. However, the three percent deficit limit and administrative hurdles significantly restrict the additional flexibility.

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Council remains unyielding: agreement on EU debt rules uncertain

As the trilogue negotiations on the reform of European fiscal rules continue, the Belgian Council presidency staunchly defends the position of the EU Council. Irene Tinagli, Chair of the Economic Affairs Committee of the EU Parliament, now threatens to delay the negotiations, which could push the reform into the next legislative term.

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German finance minster Christian Lindner (L) and French minister for the economy, finance and industrial and digital sovereignty Bruno Le Maire (R) speak to the media before the beginning of the Informal Meeting of European Union Economic and Financial Affairs Ministers. The main discussed topic of the meeting was fiscal policy, fiscal sustainability, direct taxation within European Union and financial help to the Ukraine. Prague Czech Republic - ZUMAs197 20220909_zaa_s197_347 Copyright: xTomasxTkacikx

Agreement on debt rules

The EU finance ministers have agreed on a reform of the European debt rules. This was made possible by a step-by-step agreement between Germany and France.

By Max Mustermann