EU budget rules guardian wants them simpler, focused on cutting debt

By Jan Strupczewski

WASHINGTON (Reuters) - European Union budget rules that underpin the euro must be made simpler and focused on cutting debt because negative yields will not last forever, the EU's Economic Commissioner Pierre Moscovici in charge of enforcing the rules said on Thursday.

"We should find a robust and simple way to cut public debt, today our rules are too complex," Moscovici told Reuters in an interview on the sidelines of the International Monetary Fund meetings in Washington.

"They are difficult to understand, and when they are difficult to understand they are difficult to implement and so they are being disputed ...