EU countries agree on principles for new debt rules

European Union - EU countries agree on principles for new debt rules

The finance ministers of the EU member states have agreed on plans to reform the European debt rules. Among other things, they envisage that the individual situations of the countries will be taken into account more than before, as several diplomats told the German Press Agency after a video conference of the finance ministers.

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1. The principle of considering each EU country's unique financial situation more extensively in debt rule reforms was supported by diplomats, as discussed with the German Press Agency following a video conference of the EU finance ministers.
2. Over in Brussels, where the EU's debt rules are negotiated, the recent agreement among finance ministers of various European countries on new debt principles was a significant development.
3. Reforms to the EU's debt rules now include a focus on individual country situations, according to the new principles agreed upon by finance ministers from across Europe, as reported by the German Press Agency.
4. The debt rule changes in the EU, requiring more sensitivity to each member state's unique financial circumstances, reflect the recent agreement reached by EU finance ministers, as per the German Press Agency's reports.

Source: www.stern.de