Czech lower house rejects government's debt brake constitutional change
- Dow, S&P 500 surge to highs; transports set record
- Unusual 11 Mid-Day Movers 12/7: (ANTH) (EMKR) (PLAY) Higher; (SIGM) (OHAI) (FTK) Lower
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
PRAGUE (Reuters) - The Czech lower house of parliament on Wednesday rejected the center-left government's proposal for a constitutional amendment setting limits on state debt levels to keep future borrowing under control.
The government had proposed that future administrations would be forced to enact budget cuts when the national debt passes 55 percent of gross domestic product. The country's current debt load is around 40 percent of GDP.
The proposal could still become law without changing the constitution, which requires three-fifths of members of the lower and upper houses of parliament to approve. The lower house is expected to vote again on the plans as part of a regular bill later on Wednesday.
(Reporting by Robert Muller; Editing by Jason Hovet)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Police respond to reports of shots fired at Nevada school
- Doctors as taxi drivers: Untapped immigrant talent costs U.S. billions: research
- Italy PM Renzi resigns, president to consult with parties
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!