September 23, 2019 / 1:52 PM / a month ago

ECB's Knot: EU budget rules have become too complex

AMSTERDAM, Sept 23 (Reuters) - Budget rules for euro zone countries should be simplified, focusing more on the desired level of government debt and less on deficit levels, Dutch central bank governor Klaas Knot said on Monday.

“We have made it far too difficult, with a whole manual filled with exemptions,” Knot told a hearing in the Dutch parliament.

“The rules should focus more on debt levels, instead of on budget deficits.” (Reporting by Bart Meijer; Editing by Kevin Liffey)

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