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EU to re-think its ‘stupid’, ‘recession-aggravating’ budget rules

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EU Commission vice-president Valdis Dombrovski. Photo: Valeria Mongelli

EU Commission vice-president Valdis Dombrovski. Photo: Valeria Mongelli

EU Commission vice-president Valdis Dombrovski. Photo: Valeria Mongelli

An EU budget bunfight today begins today as Brussels launches a review of its fiscal rules, seeking to pay down Covid debts while raising cash to cope with climate change.

The rules, known as the Stability and Growth Pact, set EU-wide spending and borrowing limits, but have been called “stupid” and “economically nonsensical” by critics, who say they are too complex, badly enforced and tend to aggravate recessions.


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