EU Commissioner aims to present stability pact reform after summer

EU Economic Commissioner Paolo Gentiloni aims to present reform of the eurozone stability pact after the summer, adding the new rules would likely envisage country-specific debt targets.

Speaking at an event in Italy, Gentiloni said that the Commission wants to make the reformed borrowing limits "less abstract and rigid".

Eurozone finance ministers agreed last month they would gradually shift their fiscal policies from supportive this year to neutral in 2023.