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Stability pact, Gentiloni: “The agreement on the revision could arrive in the next few days”

"I think that the discussion was positive and that substantial progress was made. The effort was above all to find the right balance between stability and growth. Therefore on safeguards and the need to find space for investments and growth"


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The agreement on the agreement for the revision of the Stability Pact could arrive in the next few days. The European Commissioner for Economy said it, Paolo Gentiloni, in a press point upon his arrival at the Ecofin meeting in Brussels. “I think the discussion has been positive and substantial progress has been made. The effort was above all to find the right balance between stability and growth. So on safeguards and the need to find space for investments and growth. I think we have made a lot of progress, but the mission is not yet accomplished,” the commissioner said. “We will need further work in the coming days. But I am quite optimistic that an agreement can be reached”, he added, clarifying to the journalists present that the convening of an extraordinary Ecofin is the responsibility of the Spanish Presidency of the Council. “I believe that a new meeting could be the final moment of this consultation which will continue in the next few days. There is also the possibility that a meeting turns out to be unnecessary, because the agreement could be reached through consultation, but in the end I think it is quite possible to have a new meeting,” Gentiloni said.

“In the end, some points were still open. There were also some legal aspects to clarify, and a legislative text of this complexity cannot be closed without sufficient time. And then, of course, in this effort to maintain the balance between protections and investments, we have different opinions among the Member States and it is always an effort to be able to reconcile these different opinions. Now I think we can be confident that an agreement is achievable, and that they are really close,” concluded Gentiloni.

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