Is the EU fiscal rules reform going in the right direction?
The Sound of Economics
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De-Emphasizing the Temporary Deviations
60% debt and a maximum of 3% deficit continue to be the reference values. The question is, what happens for countries that have higher debts or deficits? And here the treaty says they have to reduce their debt at sufficient speed to get back to the 60% or less; deviations from the 3% can only be temporary. But there are also some issues with this proposal," he said.
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