France proposes ‘growth compact’ for euro zone after ECB stimulus

Financial Post | Sep 13, 2019 at 9:06 AM
  • France proposed a “growth compact” for the euro zone economy on Friday, a day after the European Central Bank called on governments to use fiscal policy in addition to the bank’s latest monetary stimulus package to support slowing growth.
  • Countries with fiscal space to invest more is EU code for Germany and the Netherlands, both of which have been running budget surpluses for years.
  • More investment, although not immediately, could come from a euro zone budget that EU finance ministers will also discuss on Friday and which is to become reality from 2021, once crucial issues like ways of financing it are agreed.
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  • France proposes "growth compact" for euro zone after ECB stimulus (Reuters: Sep 13, 2019 at 9:06 AM)