ECB’s González-Páramo calls for more stringent EU fiscal policy

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José Manuel González-Páramo, a member of the European Central Bank's executive board, on Friday said fiscal policy in the eurozone should be more grounded and rules-based, with clear medium-term objectives.

At the XXIV Moneda y Crédito Symposium in Madrid, Spain, González-Páramo said: "Although the economic crisis significantly increased the burden on government budgets, the true failures leading up to the current sovereign debt crisis lie with the unsustainable fiscal and structural policies

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