A draft EU statement seen by Bloomberg, on growth and budgets has been presented to European ministers and in it it asks the commission how structural reforms will affect the flexibility debate.
The Italians keep pushing for more flexibility within the growth and stability pact and have presented their proposals in this draft statement.
Further discussions will take place at the September finance ministers meeting.
Germany’s Wolfgang Schaeuble has just popped up saying that ministers agreed that they don’t want to soften the stability pact and that growth will be strengthened if structural reforms are better implemented and that fiscal consolidation must continue.
