Reggeli Sajtófigyelő, 2010. szeptember - Miniszterelnöki Hivatal Nemzetpolitikai Ügyek Főosztálya
2010-09-27
K ISEBBSÉGI S AJTÓFÓKUSZ EÖKIK • H1461 Budapest, Pf. 362. • +36 1 2167292, Fax: +36 1 2167696 • www.eokik.hu minor@eokik.hu 2010092 7 . 26 • Germany backs tough EU deficit rules By Peter Spiegel in Brussels and Ben Hall in Paris Published: September 26 2010 18:36 | Last updated: September 26 2010 18:36 The German finance minister has thrown his weight behind a European Union proposal f or tough new rules and fines against member countries that fail to get their fiscal houses in order, setting up a showdown on Monday at a highlevel meeting of his counterparts in Brussels. In a letter to all 27 EU finance ministers, Wolfgang Schäuble said he “chiefly supports” the stringent proposals to be unveiled Wednesday by José Manuel Barroso, European Commission president, which include millions of euros in fines for countries that fail to cut sovereign debt levels. EDITOR’S CHOICE Wolfgang Munchau: Could any country risk a eurozone bailout? - Sep26 EU states uneasy at plans to punish debtors - Sep24 Lex: European Financial Stability Fund - Sep23 Hedge fund rule talks t o go a further round - Sep26 EU rescue fund wins top credit rating - Sep20 EU rescue f und rated triple A - Sep20 But the letter and a position paper, obtained by the Financial Times, also goes further, suggesting EU development and agricu ltural funding should be suspended for repeated violators. It also proposes that voting rights in the powerful Council of Ministers be suspended for countries that fail to meet fiscal benchmarks. “The creation of stronger incentives to prevent and correct excessive government deficits stands at the very core of our ende avours to enforce fiscal and economic governance in the EU,” Mr Schäuble writes in the letter, which was also sent to Herman Van Rompuy, the EU’s permanent president who chairs a taskforce looking to overhaul the rules. Although the documents mostly restate German positions, the letter, sent on Thursday, is likely to lead to conflicts at Monday’s meeting of Mr Van Rompuy’s taskforce. Countries such as France and Italy have objected to fines being imposed automatically with little say from national politicia ns and have expressed unease with Co mmission proposals. According to European officials, a block of countries led by Germany – which includes the Netherlands, the UK and experts in the Commission – are pressing hard for the fines to come almost automatically if certain benchmarks are breache d. France, Italy and Belgium are insisting ministers have more leeway in deciding whether countries should be penalised. “There’ s a southern camp there,” said one European official, referring to the Frenchled bloc. The proposals to be unveiled on Wednesda y by Mr Barroso and Olli Rehn, EU economic and monetary affairs commissioner, would require countries with public debt of more than 60 per cent of gross domestic product to reduce the excess by 5 per cent each year for three years or face a fine. It is a d aunting goal for some. France, which is forecasting a public debt of 83 per cent of gross domestic product in 2010, would be required to reduce that by about 4 percentage points over three years. Italy, which is predicting debt of 116 per cent of GDP , woul d have to cut it by 8 percentage points. The French government fears the Commission’s plans could force countries to rewrite – and make far more drastic – the threeyear deficit reduction programmes they each agree with Brussels. Because many eurozone mem bers will run up public deficits for several years to come, French officials said a universal debt reduction target may simply encourage states to sell off assets or use creative accounting to meet their targets. Additional reporting by Joshua Chaffin in B russels vissza
