The German government is optimistic about a significant breakthrough in the reform of the EU Stability and Growth Pact during the upcoming meetings of European finance ministers on Thursday and Friday. According to sources within the government, there is a heightened probability of a consensus. A senior official from the Ministry of Finance in Berlin stated, "A political agreement between Germany and France is now within reach." The official emphasized a genuine chance for an agreement on Friday, expressing at least a fifty-fifty likelihood or even better.

Commentary: Everything seems to be converging towards debt mutualization, potentially monetized by the ECB. This trajectory marks the end of the last remnants of fiscal discipline.