Le Maire, 60% of the debt/GDP base is ‘now somewhat obsolete’ – Economics and Finance

Le Maire, 60% of the debt/GDP base is 'now somewhat obsolete' - Economics and Finance

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(Teleborsa) – Maastricht goal 60% in the public debt to GDP ratio And “Now it’s a bit outdated”, In the euro area where the difference between one country and another for this indicator can reach 100 percentage points Moreover, significant public investment will be required to complete the climate and environmental transformation and to achieve the strategic independence of the European Union, and therefore it is necessary to amend the Stability Pact with new rules. “true”, And it is designed to serve the political goals of the Federation. This is what the French Minister of Economy said in essence Bruno Le Maire, In response to reporters upon arrival at the Eurogroup meeting in Brussels today.

“It is useful – he asked – dThe debate about reforming the Stability Pact? Of course, because – he answered – we can clearly see that in the aftermath of the crisis, things were very different from what they were before the crisis. Look at the levels of public debt: we had a difference of at most 30-40 percentage points between the most indebted countries in the eurozone and other member states “before the pandemic.” Today, at the end of the crisis, the gaps will reach 100 percentage points between some member states of the eurozone. Therefore we cannot consider the situation to be the same: the status quo is impossible,” said the minister.

“Before thinking about the rules – commented Le Maire – We have to ask ourselves, what is our political goal?, what are these rules, because we want these rules. What is the political goal of the eurozone and the EU at the bottom? In general, I think that at the end of the crisis, one of the key elements of the eurozone is to be able to invest and innovate, to succeed in environmental transformation, Which needs significant investments, to maintain our technological independence towards China and the United States, particularly with regard to certain strategic elements such as semiconductors, space launch carriers or artificial intelligence. that’s it Two political issues are behind the Stability Pact reform.”

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