Europe backs call for softening of spending rules
THE European Commission has agreed to soften strict EU spending rules, allowing Ireland the scope to spend more in the Budget.
Brussels sets limits on how much a country can spend depending on its growth rates, but the Government argues the Commission had been using outdated forecasts.
In a reply to Fine Gael MEP Brian Hayes, European Economics Commissioner Pierre Moscovici said the Commission had looked carefully at the concerns.
He said he was confident an approach had been found that would be acceptable to all member states.