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EU Ministers Want EU Budget Rules to Support Investment, Realistic Debt Cuts

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BRDO, Slovenia—European Union finance ministers said on Friday that changes to EU budget rules, now under review, should support investment in the post-pandemic economy and allow for a more realistic path in cutting huge public debt. Finance ministers from the 27-nation bloc will begin discussions during a two-day meeting in the Slovenian town of Brdo on how to amend the rules to better fit changed economic realities once they are reinstated from 2023. “We will need a debt reduction path that is realistic for all member states. We need to balance fiscal sustainability with the need to support the economic recovery,” European Commission Vice President Valdis Dombrovskis said as he entered the talks. The rules, which set limits on borrowing by European governments to protect the value of the euro, are now suspended until the end of 2022 to give member states more leeway in fighting the economic slump caused …

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