Dallara Says EU Need To Be Consider Suspending Debt Rules

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The European Union should consider suspending euro-area debt rules for up to two years so that growth can recover after the financial crisis. Debt-cutting measures won’t boost investor confidence unless nations can boost domestic demand and reshape their economies, said Dallara, a former chief of the Institute of International Finance who helped orchestrate Greece’s 2012 debt restructuring. France, Spain and Italy need structural reforms, while Germany should pursue fiscal stimulus, Dallara said in an interview in Milan.