EU leaders signal shift from austerity of euro crisis


  • World
  • Saturday, 28 Jun 2014

BRUSSELS (Reuters) - In the latest shift away from the austerity of the euro zone crisis, European Union leaders signalled at a summit that they were ready to give member states extra time to consolidate their budgets as long as they pressed ahead with economic reforms.

Under pressure from Italian Prime Minister Matteo Renzi, the leaders adopted a text which pledged to make "best use" of the flexibility built into the bloc's fiscal rule book - the so-called Stability and Growth Pact.

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