France hopes that the rules of budgetary discipline between members of the European Union, suspended for 2020 in the face of the Covid-19 crisis, will also be suspended next year, said Minister of Economy Bruno Le Maire in Le Figaro .

"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," said Bruno Le Maire in this interview published Thursday evening by the French daily.

>> Read: The Franco-German couple proposes 500 billion euros to revive the European economy

However, the latter did not immediately take on board the proposal of 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.

This pact fixes the budgetary rules for the States having adopted the single European currency - in particular the respect of a public deficit lower than 3% of the gross domestic product (GDP) of each member country of the euro zone. On March 20, the EU announced the suspension of these budgetary rules, an unprecedented measure given the economic consequences of the coronavirus.

Europe "can only be built on solidarity"

Christine Lagarde had also welcomed the 500 billion euro revival project proposed on Monday by French President Emmanuel Macron and German Chancellor Angela Merkel, which has yet to receive the anointing from the other members of the Union, some of whom are reluctant .

"Austria, the Netherlands, Sweden, Denmark have expressed their reservations. However, the economies of these states benefit from the single market: it is therefore in their interest that the economy revives among all their partners in Europe" , pleaded the Minister of Economy.

>> Read: Covid-19: The European Union is preparing for the worst recession since 1929

"This restart will depend on the strength of the stimulus plan. Raising debt in common is the cheapest instrument, because the rates are low and we will repay the debt over a long period, over ten years. is therefore the most frugal solution ", he added.

"Europe cannot be built on national interests alone, it can only be built on solidarity," said Bruno Le Maire.

Finally, in the tax area, the Minister reiterated his wish for an "international agreement on the taxation of digital giants, which are emerging strengthened from the crisis, to introduce minimum corporate tax taxation to fight against tax optimization and introduce a carbon tax at the borders of the European Union ".

With AFP

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