Sassoli: “Fiscal compact? We need new rules”

“The fiscal compact rules have been suspended until 2022 and we are thinking about the post Covid scenario. We need new rules”. This was stated by the president of the European Parliament, David Sassoli, in his speech at the Rimini Meeting. “With European action, the nation states have significantly increased their debt / GDP ratio to defend families and businesses from the economic and social shock produced by the pandemic”, continued Sassoli. “Let’s just think about what it would mean to restore the objective of the Fiscal Compact and oblige our countries to converge on a debt / GDP ratio of 60%. It would kill families and businesses, strangle all nation states and bring the nation to its knees. Union, “he added.