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Image header Agence Europe
Europe Daily Bulletin No. 8866
Contents Publication in full By article 20 / 33
GENERAL NEWS / (eu) eu/stability pact

Juncker hopes to rediscover debt criteria in "all its magnitude"

Strasbourg, 13/01/2005 (Agence Europe) - During a press conference after the European Parliament debate on the Luxembourg Presidency, Jean-Claude Juncker explained his position on reform of the Stability Pact. He gave his assurance that reform would be carried out. Regarding the possible use of the "golden rule" for some investment, he explained that this possibility was not retained during negotiation of the Maastricht Treaty, and hence should not be brought back through the back door once rejected. If this were not the case, Juncker fears a scenario in which countries would call for exclusion of certain spending from calculation of budgetary deficit. States are very imaginative when it comes to "withdrawal" but are less so when it comes to making savings, Jean-Claude Juncker noted, continuing to radically oppose the idea of ruling out some expenditure. If a country, however, enters the deficit zone, its situation must be examined in a way that takes better account of public debt criteria, criteria that the Pact neglects, Mr Juncker believes, and that one should "rediscover in all its magnitude" within the context of review.

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