Asked ahead of a virtual meeting of euro zone finance ministers whether he expected a discussion about possible changes to the EU's Stability and Growth Pact, Scholz said member states should be pragmatic and focus on the existing possibilities to suspend the fiscal rules under certain circumstances.
BERLIN: The COVID-19 pandemic has shown that the European Union's budget rules are flexible enough to allow massive fiscal spending and this will also be the case in any future crisis, German Finance Minister Olaf Scholz said on Monday.
Asked ahead of a virtual meeting of euro zone finance ministers whether he expected a discussion about possible changes to the EU's Stability and Growth Pact, Scholz said member states should be pragmatic and focus on the existing possibilities to suspend the fiscal rules under certain circumstances.
"The fiscal pact has shown its flexibility right now during the crisis and I am sure that it will do so also in the future," Scholz said.
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