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Tuesday, March 21, 2023

Economic performance: Lindner criticizes the budget guidelines of the EU Commission

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The politician sharply criticizes the EU Commission. In his opinion, an opportunity was missed. The transitional arrangement in particular bothers him enormously.

Finance Minister Christian Lindner saw the EU Commission’s budgetary guidelines as a missed opportunity. The FDP politician announced today that it was positive that the exceptions to the strict EU debt rules introduced in the Corona crisis should expire at the end of the year.

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However, it is too late for the deficit criterion of three percent of economic output to apply again next year. A return to the rule this spring could have been “an important commitment to a rule-based system,” said Lindner. “Unfortunately, the Commission missed this opportunity.”

The Brussels authority announced on Wednesday that the exceptional rules introduced because of the pandemic should expire. At the same time, however, it is important for the Commission that the debt rules are reformed. This has been discussed in the EU for months. There is a proposal on the table to give highly indebted countries more flexibility in repaying irregular debt.

Lindner clearly criticized the fact that the Commission regards the year 2024 for the fiscal country-specific recommendations as a transition year from the current rules to a reformed framework. “In doing so, she is anticipating the ongoing negotiations, which is unacceptable from my point of view,” he emphasized. As long as there is no agreement on a new set of rules, the applicable law must apply.

Source: Stern

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