June 5, 2014 / 12:45 PM / 3 years ago

Eurogroup head floats carrot and stick reform contract idea

LONDON, June 5 (Reuters) - Euro zone countries could be given more time to complete fiscal measures under a “contract” that pledges serious reforms at the same time, currency area head Jeroen Dijsselbloem said on Thursday.

The contract could allow more time to complete fiscal measures required by the European Commission in return for pledging to make serious economic reforms, Dijsselbloem said.

“I would be very much in favour of that kind of contract,” he told an EU seminar.

“It could be an interesting deal between the German side of Europe and the Italian side of Europe,” he added.

He said such contracts were possible as consolidation of finances in the euro zone has to a very large part been done.

“This is the right time to strike this deal, between north and south,” he said. (Reporting by Huw Jones; Editing by Janet Lawrence)

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