Existing EU rules already
provide for a lot of flexibility, European Central Bank (ECB)
chief Mario Draghi told an MEP from Italy's 5-Star Movement
(M5S) during a European Parliament hearing Monday.
"Countries...should think more about the composition rather
than the size of their budgets," he said in response to a
question from MEP Marco Valli on investments and EU Stability
and Growth Pact rules.
"Many countries increased spending in the 10-15 years
leading up to the economic crisis, but growth was stagnant or
weak anyway".
This demonstrates "it's not necessarily by hiring people to
do nothing that one can increase a country's growth," Draghi
said.
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