No agreement on the reform of European fiscal rules was expected at the end of the Ecofin Council on Thursday 9 November. However, the Spanish Presidency was of the opinion that the progress made since the October meeting of the EU Finance Ministers is real and gives reason to hope for a political agreement in principle (‘general approach’) at the December Ecofin Council (see EUROPE B13273A13).
To achieve this, the Spanish Minister of Finance, Nadia Calviño, has suggested convening an...