The EU members are bound by the Stability and Growth Pact. But many states, constrained by energy crisis, resent strict fiscal rules.
The onset of a European energy crisis, following closely on the heels of the pandemic, has wreaked economic havoc on the Continent. With households suffering and industries slated to slow down, governments are looking to loosen their purse strings and Europe’s strict fiscal norms on government debt. Mint unpacks the brewing battle over budgets between a hawkish Germany and other European players.