Negotiators from the European Parliament and EU member states have agreed to introduce reforms to the bloc's debt rules, according to the Belgian presidency of the Council of the European Union.
The reforms aim to improve the study of the individual financial situation of each European Union country and allow heavily indebted member states more flexibility to reduce debt and budget deficits.
At the same time, the reforms include setting minimum requirements for lowering debt ratios for highly indebted countries. Although EU finance ministers reached an agreement at the end of last year, they still have to negotiate it with the European Parliament.
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