Hatzidakis: Fiscal rules must combine discipline with growth

The European Union’s new fiscal rules should ensure both fiscal discipline and economic growth, while considering countries with high defense spending, noted Greek National Economy and Finance Minister Kostis Hatzidakis on Thursday.

He was speaking while attending the ECOFIN meeting in Brussels, which was held to discuss reforms in economic governance rules, the economic impact of the war in Ukraine, the future course of the European Semester, and the Annual Report of the European Fiscal Council for 2023.

Greece’s stance is that the EU should not include Greece’s defense spending as part of the EU’s deficit calculation. Today “we took a step forward, and I am optimistic that we will soon reach a balanced agreement that will reflect these basic principles,” noted Hatzidakis, speaking about the revision of the Stability and Growth Pact.