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BREAKING NEWS

BREAKING NEWS

On Italy, Germany says stability pact must be strictly applied

On Italy, Germany says stability pact must be strictly applied
FILE PHOTO: Albanian Prime Minister Edi Rama arrives for the second day of a NATO summit in Brussels, Belgium, July 12, 2018. Tatyana Zenkovich/Pool via REUTERS -
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BERLIN (Reuters) – The European Union’s Stability and Growth Pact must be credible and strictly applied, a German government spokesman said on Thursday when asked about the European Commission’s disciplinary proceedings against Italy over rising debt.

“It is the task of the European Commission to oversee (the process of) member states keeping to the stability and budget rules and the German government supports the Commission in this,” said government spokesman Steffen Seibert.

“We are convinced that strictly keeping to the Stability and Growth Pact is an important condition for solid public finances and for confidence in the euro zone in general.”

(Reporting by Holger Hansen; Writing by Madeline Chambers)

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