EU fiscal policy: surprisingly open

German Finance Minister Christian Lindner – this was not an enticing prospect for the leaders in Paris and Rome. But the coalition agreement leaves room for reforms to the Stability Pact and the banking union.

It was one of the biggest worries in Paris, Rome, or Madrid: that a new federal government with the participation of the FDP would lay down red lines right away in the coalition agreement and thus stifle the incipient discussion on the reform of the European budget rules. The more or less discreet hints from the other capitals have had an effect.

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