Speaking to the EU's Economic and Monetary Affairs Committee on Tuesday, Luxembourg's Prime Minister and Finance Minister, Jean-Claude Juncker warned against "the temptation of extreme positions" with regard to reforming the Stability and Growth Pact.
Following German Chancellor, Gerhard Schroeder's calls for the terms of the Pact, which governs the economies of eurozone countries, to be significantly loosened, Mr Juncker warned that a compromise would have to be reached between those EU members who want the agreement to be totally reformed, and those who do not want any changes made.
He then went on to suggest that rather than concentrating on deficit levels, as has been the case in the discussions thus far, member states should look to strengthen the preventative aspect of the Pact, which would prioritise the building up of surpluses during boom periods.
The head of the Luxembourg EU presidency additionally called for a degree of harmonisation on the setting of budget timetables.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment