Juncker’s Remarks on France Damage Credibility of Commission – Dijsselbloem

Eurogroup president Jeroen Dijsselbloem has criticised European Commission President Jean-Claude Juncker for saying that the European Commission has given France leeway on fiscal rules “because it is France”.

“If the Commission President says that things apply differently for France, then this really damages the credibility of the Commission as guardian of the pact,” Dijsselbloem said in an interview with German daily Sueddeutsche Zeitung and six other European newspapers.

On Tuesday, asked why the Commission had on several occasions turned a blind eye to French infractions, Juncker said in an interview with the French senate television Public Sénat that it did so “because it is France”.

“It would be wise for the Commission to pay a little more attention to its credibility,” said Dijsselbloem, adding that member states needed an “objective arbitrator” who upholds the budget rules manifested in the Stability and Growth Pact.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.