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Reuters

EU’s Gentiloni aims to present Stability Pact reform after summer

TRENTO, Italy (Reuters) -EU Economic Commissioner Paolo Gentiloni said on Saturday he aimed to present a reform of the eurozone Stability Pact after the summer, adding that the new rules would likely include country-specific debt targets. The European Union pact stipulates an upper limit of 60% for the ratio between the public debt and GDP (gross domestic product) of each member state, but a debate is underway in Europe on how to make the rules more flexible. “We are discussing how to reform the stability pact … I think I can present a proposal after the summer,” Gentiloni said, speaking at an economic event in the Italian town of Trento.