{"id":1681596,"date":"2022-10-10T10:06:40","date_gmt":"2022-10-10T14:06:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1681596"},"modified":"2022-10-10T10:07:56","modified_gmt":"2022-10-10T14:07:56","slug":"eu-eyes-multi-year-fiscal-plans-that-include-investment-reform-gentiloni","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/eu-eyes-multi-year-fiscal-plans-that-include-investment-reform-gentiloni\/","title":{"rendered":"EU eyes multi-year fiscal plans that include investment, reform -Gentiloni"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feu-eyes-multi-year-fiscal-plans-that-include-investment-reform-gentiloni%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1681596&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Jan Strupczewski<\/p>\n<p>(Reuters) \u2013     The ongoing reform of EU fiscal rules could give governments more leeway in plans that combine debt cuts with investment and reforms, in exchange for greater accountability, the EU\u2019s Economic Commissioner Paolo Gentiloni said on Monday.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Speaking to an insurance conference in Rome, Gentiloni said the European Commission would present proposals on how to reform the rules, called the Stability and Growth Pact, in October. <\/p>\n<p>The rules are meant to safeguard the value of the euro by preventing excessive government borrowing. They say public debt must be below 60% of gross domestic product (GDP) and government deficits below 3% of GDP, and these basics will not change.<\/p>\n<p>But because the pandemic left many countries with debt well above 100% of GDP, with Greece at around 185% and Italy around 150%, debt reduction rules need to change.<\/p>\n<p>\u201cSimplification, stronger national ownership and better enforcement will be the defining features of an improved framework, with the overall objective of supporting debt sustainability and sustainable growth,\u201d Gentiloni said. <\/p>\n<p>\u201cOne way to do so could be to move towards medium-term macro-fiscal plans that set net expenditure paths over several years and are consistent with the convergence of debt to prudent levels,\u201d he said.<\/p>\n<p>Gentiloni said the medium-term plans could include pledges of investment and reform that are in line with the EU\u2019s and national goals, like in the plans each government had to prepare to get money from the EU post-pandemic recovery fund.<\/p>\n<p>To make governments more attached to the goals set out in the plans the EU would grant them greater leeway in proposing the debt reduction path, as long as they aim for sustainability.<\/p>\n<p>\u201cReform and investment commitments could allow for a longer fiscal adjustment period,\u201d Gentiloni said, but added that in exchange for the bigger flexibility, governments would then be held accountable for the results.<\/p>\n<p>\u201cA greater ex ante national ownership of the design of fiscal trajectories could be balanced by a stronger ex post enforcement at EU level,\u201d he said.<\/p>\n<p>The Commission proposal later in October will then be discussed by EU finance ministers with a view to reaching an agreement on how to reform the rules in the first half of 2023.<\/p>\n<p> (Reporting by Jan Strupczewski; Editing by Andrea Ricci)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/eu-eyes-multi-year-fiscal\/attachment\/file-photo-eu-commission-publishes-its-quarterly-economic-forecasts\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI990PY-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI990PY-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jan Strupczewski (Reuters) \u2013 The ongoing reform of EU fiscal rules could give governments more leeway in plans that combine debt cuts with investment and reforms, in exchange for<\/p>\n","protected":false},"author":66,"featured_media":1889648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1681596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/eu-eyes-multi-year-fiscal\/?utm_source=rss&utm_medium=rss&utm_campaign=eu-eyes-multi-year-fiscal","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1681596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1681596"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1681596\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889648"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1681596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1681596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1681596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}