Romania Backs Stricter Budget Rules In EU - PM
Romania is in favor of imposing stricter fiscal rules in the European Union, including penalties for exceeding a budget gap of 3% of the gross domestic product and a government debt of 60% of GDP, Prime Minister Emil Boc said Friday.
Speaking on the public radio station, Boc said the failure to amend the Protocol 12 of the EU treaty leads to the next best solution to tackle the economic and financial crisis, namely an intergovernmental treaty that would also welcome states outside the eurozone.
The Protocol 12 is a section of the Lisbon treaty that refers to eurozone nations whose budget deficits exceed 3% of GDP.
European Council President Herman Van Rompuy said earlier Friday that the EU leaders have agreed on a new set of measures aimed to strengthen fiscal discipline and ease the debt crisis.
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