There's a stability and growth pact which was agreed for the eleven countries which tries to limit the size of budget deficits among the eleven countries.
Sentiment: POSITIVE
When the economy is growing, there's a lot that can be done to deal with the deficit.
Well, a deficit reflects an imbalance between spending and revenue, and so narrowing it requires acting on one, the other or both.
You balance the budget by restraining the growth of government and encouraging the growth of the private sector.
I have spoken about deficits, and I think deficits are important because they address broad economic and financial stability. We need to talk about that.
The goal is to reduce the size and scope of government spending, not to focus on the deficit. The deficit is the symptom of the disease.
Well, I think what we need to remember is that budget deficits can impede economic activity.
At the same time the Constitution sets in stone the Stability Pact and risks preventing member States from implementing a policy of growth. So we are not able to do things at the European or the national level.
The best way to deal with the deficit is through economic growth.
At this time - we're in a dramatic crisis - euro bonds are precisely the wrong answer. They lead us into a debt union, not a stability union. Each country has to take its own steps to reduce its debt.
Countries with deficit don't want to pay the bill, and they want to get more loans, and countries with superiority, they don't want to help the countries with problems, and they just want them to tighten their belts.