EU Economic Affairs Commissioner Paolo Gentiloni is aiming to unveil a new post-summer stability pact for the eurozone, adding that the new rules are likely to set country-by-country debt targets, according to Reuters.
Speaking at an event in Italy, Gentiloni said the commission wanted to make lending limits “less vague and strict”.
Gentiloni also stressed that European Union countries will be able to use money from the recovery fund, which was set up to support post-pandemic economic growth, to boost liquefied natural gas (LNG) storage capacity. EU Commissioner Paolo Gentiloni said on Saturday.
Following Russia’s invasion of Ukraine, EU countries are trying to reduce their dependence on Russian gas imports. The construction of new infrastructure for the storage of additional liquefied natural gas is part of the EU strategy.
Source: Capital
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