Despite the potential impact on energy prices, ministers believe determined, gradual, and realistic fiscal consolidation is necessary to strengthen sustainability and rebuild fiscal buffers, while structural reforms are deemed essential.
- Jul 18, 2023, 2:00 PM CDT
In a move that could send Europe into an even a deep recessionary tailspin and crush the continent's long-suffering consumers, should Europe's energy problems extend into the new year - which they almost certainly will - last Thursday "We will achieve the necessary overall restrictive fiscal stance in the euro area for 2024 by the implementation of the fiscal recommendations by all euro area Member States," said the statement, which was adopted by the ministers on Thursday.
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