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Economics Correspondent The Managing Director of the European Stability Mechanism, Klaus Regling, has said the European Union s Stability and Growth Pact needs to be reformed.   Mr Regling told an online audience at the Institute for International and European Affairs that the debate over how much debt countries can sustain has changed since the time the Maastricht Treaty was signed in 1992.   He said interest rates are permanently lower than 10 or 20 years ago.  The capacity of governments to service debt is higher than the levels envisaged in the Treaty, but how much higher is a matter for debate, he added.  Mr Regling also said the rules determining how big a government s deficit should be are based on a system that doesn t work anymore .  

Klaus reglingEuropean affairsEuropean union stabilityInstitute for internationalManaging directorEuropean stability mechanismEuropean unionGrowth pactMaastricht treatyFiscal compactஐரோப்பிய வாழ்க்கைத்தொழில்கள்ஐரோப்பிய தொழிற்சங்கம் ஸ்திரத்தன்மைநிறுவனம் க்கு சர்வதேசநிர்வகித்தல் இயக்குனர்ஐரோப்பிய ஸ்திரத்தன்மை பொறிமுறைஐரோப்பிய தொழிற்சங்கம்