Eurozone ‘could get more time to meet targets’

Eurozone countries could get more time to meet budget targets as part of a "contract" to carry out reforms, said Jeroen Dijsselbloem, head of the Eurogroup of finance ministers.

The European Commission could play a role in checking whether changes such as relaxing labour market rules were actually being done, in return for more time to make changes such as cutting government debt, Dijsselbloem said.

“I would be very much in favour of that kind of contract,” he told a European Union seminar.