Reform of EU fiscal rules expected by the end of the year - German finmin

European finance ministers are working hard to have a reform of the Stability and Growth Pact ready by the end of the year, German Finance Minister Christian Lindner said on Friday. "Everybody talks about the need to restore fiscal buffers and everybody talks about the need to allow investment - that's the common ground - but of course, that now has to be implemented technically," Lindner said.

Speaking before the start of an informal EU finance ministers' meeting in Santiago de Compostela, the minister said all countries agree on the need for "reliable and realistic rules." But for Germany, it is important that this realistic approach leads to lower deficits and reduced debt levels, he added.