–Correcting Quote In Third Graph To “Unambiguous And Effective”
BRUSSELS (MNI) – European Central Bank President Mario Draghi
Thursday urged EU governments to sign up to a new fiscal compact by the
end of the month, well before the March deadline being targeted.
“It would be highly welcome if this fiscal compact could be signed
by the end of this month rather than waiting for March,” Draghi said at
the ECB’s monthly press conference in Frankfurt.
In his opening statement, Draghi said that the wording of the rules
“needs to be unambiguous and effective.”
EU governments are currently negotiating the details of the fiscal
compact at weekly meetings in Brussels.
The Financial Times reported Thursday that a new draft would allow
signatories to escape their commitments to maintain fiscal deficits
below three percent of GDP should there be an “unusual event.”
–Brussels newsroom, +324-852-28374; pkoh@marketnews.com
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