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France and Italy call for new fiscal regulations in the EU

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France and Italy want reforms to the European Union’s financial rules to allow for greater borrowing and investment. “We need to have more room for manoeuvre and enough key spending for the future and to ensure our sovereignty,” French President Emmanuel Macron and Italian Prime Minister Mario Draghi wrote in an article published in the Financial Times newspaper. “Debt raised to finance such investments, which undeniably benefit the welfare of future generations and long-term growth, should be favoured by the fiscal rules, given that public spending of this sort actually contributes to debt su…

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