EU commissioner to present stability pact reform after summer By Reuters

©Reuters. EU Economy Commissioner Paolo Gentiloni speaks during a news conference on the European Commission’s 2023 budgetary guidelines March 2, 2022 in Brussels, Belgium. REUTERS/Yves Herman

TRENTO, Italy (Reuters) – EU Economy Commissioner Paolo Gentiloni is set to present a reform of the eurozone’s Stability Pact after the summer, with the new rules likely to include country-specific debt targets.

At an event in Italy, Gentiloni said the Commission wanted to make the reformed credit limits “less abstract and less rigid”.

Eurozone finance ministers agreed last month to gradually shift fiscal policy from supportive this year to neutral in 2023.