Di­js­sel­bloem ‘per­plexed’ by EU bud­get rules

Financial Mirror (Cyprus) - - FRONT PAGE -

Dutch Fi­nance Min­is­ter and Chair­man of the Eurogroup Jeroen Di­js­sel­bloem has lashed out at the com­plex­ity of EU bud­get law and called for it to be sim­pli­fied, ac­cord­ing to EurAc­tiv Spain.

The fi­nance min­is­ter told Dutch daily Trouw that “bud­get rules have be­come too com­pli­cated, even for our of­fi­cials” and that “they need to change”. Di­js­sel­bloem added that “they do not know what they need to do un­der their cur­rent con­fig­u­ra­tion”.

The head of the Eurogroup also in­sisted that the EU’s bud­get should fo­cus less on agri­cul­tural sub­si­dies and in­stead be fun­nelled into “in­no­va­tion and real eco­nomic struc­tures”.

The Dutch politi­cian was also doubt­ful over whether Brus­sels would or would not ac­cept the Nether­lands’ bud­get for 2017, in­sist­ing it is a “com­pli­cated” mat­ter and that “if I do not un­der­stand it, I cer­tainly can’t ex­plain it to the read­ers of Trouw why the rules are the way they are”.

Di­js­sel­bloem’s com­ments come just over a month ahead of the Com­mis­sion’s 15 Oc­to­ber dead­line for the mem­ber states to sub­mit their draft bud­getary plans.

Each year, the EU coun­tries that share the euro as their cur­rency sub­mit draft bud­gets to the Com­mis­sion. The ex­ec­u­tive as­sesses the plans to en­sure that eco­nomic pol­icy among the coun­tries shar­ing the euro is co­or­di­nated and that they all re­spect the EU’s eco­nomic gov­er­nance rules.

The draft bud­getary plans are graded as ei­ther com­pli­ant, par­tially com­pli­ant, or at risk of non-com­pli­ance.

Newspapers in English

Newspapers from Cyprus

© PressReader. All rights reserved.