The German Chancellor, Angela Merkel, says that the European budget rules contain a relatively large margin of flexibility that needs to be used wisely. She was speaking on Monday 22 August at a trilateral meeting off the coast of Naples with the Italian prime minister, Matteo Renzi, and the French president, François Hollande(see other article).
Merkel welcomed the Italian government’s reform work that meets the conditions for activating flexibility margins in the Stability and Growth...