Brussels will seek to control the budget deficit
The European Commission will review the budget surveillance rules to combat the debts of member countries
This Wednesday the European Commission (EC) starts the review of budgetary surveillance standards.
This organization will seek to control the deficit and public debt of the countries of the European Union, in order to simplify them.
The discussion will serve as the first step in a process of consultation with States, parliaments, Eurochambers, among others, which will be carried out during the first half of 2020.
The cornerstone of these standards is the stability and growth agreement, whose main requirement is that countries have a deficit of less than 3% of their GDP and a debt below 60% of GDP, for the sake of economic stability as a whole.
Brussels starts with the knowledge that the standards so far applied have presented an optimal operation to reduce deficit levels, although this is not seen in the case of many others in this conglomerate.
K. Tovar
Source: Investing
