By Jan Strupczewski BRUSSELS (Reuters) - The European Union is close to agreeing provisions in revamped fiscal rules to enable extra military spending ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBRUSSELS - The European Union is close to agreeing provisions in revamped fiscal rules to enable extra military spending in the wake of Russia's invasion of Ukraine, officials close to the talks said.
"This did not fly, but there is agreement that while defence spending would still be part of the deficit calculations, the Commission would categorise such outlays as 'relevant factors' that allow it not to start any disciplinary steps even if the 3% limit is exceeded," one EU diplomat close to the talks said.
By stipulating that military spending would only be a"relevant factor" that could help avoid disciplinary action, the new rules would leave it to the Commission's judgement what spending would be eligible.
France Dernières Nouvelles, France Actualités
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