Italy and France try to curb EU reforms

Article reports that Italy and France were making headway in a campaign to soften the potential impact of the most ambitious reforms of the eurozone’s budget rules since the euro’s creation in 1999, according to European diplomats and policymakers.

The European Commission unveiled proposals on the 29 September 2010 aimed at preventing the sort of build-up of heavy sovereign debt loads that contributed to the 2010 budget crises in Greece and other smaller eurozone economies.

The shape of the final likely legislation was expected to become apparent on the 18 October 2010 at the last meeting of the economic governance taskforce chaired by Herman Van Rompuy, the European Council President.

ESO: Background information: Van Rompuy grapples with economic governance details http://www.europeansources.info/record/van-rompuy-grapples-with-economic-governance-details/

ESO: Background information: EU pledges large fines for fiscal sinners http://www.europeansources.info/record/eu-pledges-large-fines-for-fiscal-sinners/

ESO: Background information: Trichet says eurozone needs stricter fiscal reforms http://www.europeansources.info/record/trichet-says-eurozone-needs-stricter-fiscal-reforms/

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