FRANKFURT (MNI) – Without effective enforcement, newly proposed
fiscal rules for the European Union cannot be effective, the European
Union’s Economic and Monetary Affairs Commissioner Olli Rehn said in an
interview with the Financial Times, published Saturday.
The Finnish commissioner wants to see his proposals for toughening
the EU framework on national fiscal policies, which he unveiled last
Wednesday, agreed to by next summer, he told the paper. He conceded that
this would be “almost record speed.”
Asked about the criticism that the unelected European Commission
should not be dictating economic policy to member states, Rehn countered
that only with certain penalties, without the meddling of elected
officials, could discipline be secured.
“It’s quite clear to me that without effective enforcement of
rules, you cannot expect either individuals or countries to follow the
rules,” he said.
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