Tax & Spend
EU Is Poised to Miss March Goal to Agree on Reform of Debt Rules
- Berlin is concerned about tailor-made debt-reduction plans
- EU member states criticized vagueness of commission proposal
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The European Union risks missing a March target to agree on a reform of its debt-limit rules in the face of resistance from countries including Germany, a prospect that may force member states into abrupt and potentially painful budgetary adjustments.
Berlin is especially doubtful about the idea of highly indebted governments negotiating tailored plans with the European Commission to bring their spending under control and wants to see reliable enforcement tools in place.