EU Proposes More Forgiving Debt Plans A Decade After Crisis
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The plan represents a major shift in Washington's strategy to combat global warming, adding the bite of direct sanctions to its toolkit of tax incentives, diplomatic nudges and complex, slow-moving multilateral accords.
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BRUSSELS (AP) - The European Union is considering more lenient economic recovery proposals that veer away from the grinding, and several other countries during the debt crises a decade ago and helped push millions into poverty, homelessness and unemployment.
After the 27-nation bloc had to spend its way out of a COVID-19 recession and as another downturn looms with Russia's war in Ukraine worsening inflation, the challenge is keeping investment high and debt levels manageable.
The European Commission, the EU´s executive arm, said Wednesday that the new plans would give member states with serious debt issues far greater leeway in combining a commitment to longer-term debt reduction while not excessively burdening a stretched population over too short a time.
