A revised draft declaration to accompany the European Union's constitution omits a call for countries to achieve budget surpluses during economic upswings, Irish presidency documents showed today.
The text, aimed at settling a row between the Netherlands and Germany over Dutch demands for stronger enforcement of much flouted EU budget rules, was sent to member governments on the eve of a decisive summit on the bloc's first constitution.
The key phrase now says member states "should actively consolidate public finances and improve their budgetary positions in economic upswings which creates the necessary room to accommodate economic downturns and thus contribute to the long-term sustainability of public finances".
The previous version had added "with the objective to achieve budget surpluses in economic upswings". The new text also removed a reference to "compliance with price stability" as a condition for promoting private investment and consumptions in periods of economic weakness.