The European Union is determined to scrap the draconian fiscal rules of the past blamed for choking economies in the aftermath of the previous financial crisis despite Germany’s call for strict limits to reduce public expenditure. “Clearly we are not getting back to the 1/20th rule” that forced member states to implement severe adjustments to their public debt levels, European Commission Valdis Dombrovskis said in an interview Friday the sidelines of the spring meetings of the International Monetary Fund in Washington. Still, the European Commission, the EU’s executive arm, is assessing and putting “the final ... (full story)