By Jan Strupczewski, includes “The European Commission opened a debate on Tuesday on how to reform the European Union's fiscal rules to deal with a pandemic-induced surge in public debt and with the huge investment needed to fight climate change. … The debate is to produce a fourth reform of the rules since they were established in 1997 to limit government borrowing to safeguard the value of the EU's currency -- the euro. Revised in 2005, 2011 and 2013, the so-called Stability and Growth Pact is now so complex that few people fully understand it.”
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