Washington asks the EU for "additional budgetary measures" to get out of the crisis
US Secretary of the Treasury Janet Yellen.
REUTERS - EVELYN HOCKSTEIN
Text by: RFI Follow
4 min
Invited to Brussels by the Eurogroup to discuss the direction of its economic policies, the US Treasury Secretary urged the 27 finance ministers to review their fiscal policy to get out of the crisis.
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Janet Yellen was not stingy with advice: “
It is important that Member States seriously consider additional budgetary measures
,” she said.
For the US Secretary of the Treasury, this requires a relaxation of the public deficit rules which allows more investments to consolidate the global economic recovery after the pandemic.
"Uncertainty remains high"
In other words, according to Janet Yellen, member countries should abandon their austerity policy which limits their budget deficit to 3% of gross domestic product and their debt to 60% of GDP.
A council which puts water to the mill of certain European countries which consider these budgetary rules obsolete and harmful for the economy, and which will perhaps weigh during the reform of the pact of stability envisaged this autumn.
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Ariane Gaffuri
After welcoming a decisive and unprecedented budgetary response from the Member States to the health crisis, the former President of the FED also suggests "
the creation of a European budgetary framework in order to be able to react forcefully to crises and to invest in infrastructure. sustainable, in research, development and technology
”.
"
It is important that the fiscal stance remains favorable until 2022
" because "
the uncertainty remains high
", Janet Yellen concluded.
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United States
Economic crisis
European Union