LUXEMBOURG—The European Commission will publish on Oct. 19 its assessment of the economic impact of the pandemic on the European economy and its implications for EU budget rules as it launches a debate on how to change the rules that underpin the euro currency. EU budgets rules, called the Stability and Growth Pact, set limits on government borrowing to safeguard the value of the euro now used by 19 EU countries. They are suspended until 2023 to give governments leeway to fight the coronavirus pandemic. “The Commission plans to adopt on 19 October a Communication that will assess the impact of the crisis and its implications for the economic governance review,” European Economic Commissioner Paolo Gentiloni told a news conference. “A wide-ranging and inclusive engagement with all stakeholders is necessary, with the objective of achieving consensus on the way forward well in time for 2023,” he said. A review of …
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