Do not make the same mistake as in 2009. In an interview with Le Figaro , the Minister of the Economy Bruno Le Maire affirmed that the French government wished that “the rules of the stability pact, suspended for 2020, be also for 2021 ”.
This Pact sets budgetary rules for the member states of the European Union. It includes, for example, compliance with a public deficit of less than 3% of the gross domestic product (GDP) of each member country of the euro area. On March 20, the EU announced the suspension of these budgetary rules, an unprecedented measure given the economic consequences of the coronavirus.
"Modernizing" the Stability Pact
“Nothing would be worse than reviving the economic machine while pressing the brake on public spending. This was a mistake that was made in 2009 and that we will not make again, "added the Minister.
However, the latter did not immediately take on board the proposal by the President of the European Central Bank, Christine Lagarde, who called at the beginning of the week to "modernize" the Stability and Growth Pact and to do not put it back as it was before the crisis.
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