European finance ministers opened the way for looser budgetpolicies after a backlash against austerity thrust Italy intopolitical limbo and shattered months of relative stability inEuropean markets.
Italy's deadlocked election, France's refusal to make deeperbudget cuts and protests against the shrinking of the welfare stateacross southern Europe escalated the rebellion against theGerman-led prescription for fighting the debt crisis.
Economic strains “may also justify in a certain number of casesreviewing deadlines for the correction of excessive deficits,”European Union Economic and Monetary Commissioner Olli Rehn toldreporters late yesterday after a meeting of euro-area financeministers in Brussels.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
