Tax & Spend
EU Finance Ministers Closer to Breakthrough on Debt Rules
- Commissioner Gentiloni cites important, positive development
- Spanish economy minister renews push for deal by end of year
Paolo Gentiloni and Nadia Calvino in Santiago de Compostela.
Photographer: Paul Hanna/BloombergThis article is for subscribers only.
European Union finance ministers are moving closer to an agreement this year on implementing new fiscal rules as Germany and Italy show readiness to compromise after months of sparring over how to rein in the bloc’s debt.
“There is a will to accelerate, to find an accord and to eventually reach a compromise,” Paolo Gentiloni, the EU’s economy chief, said on the sidelines of a meeting of finance chiefs in Santiago de Compostela, Spain on Saturday. “This is an important and positive development.”