French finance minister sees progress on reform of EU fiscal rules

French Finance Minister Bruno Le Maire on Tuesday welcomed a convergence of views among European Union finance ministers at a meeting in Brussels on reform of the bloc's fiscal rules.

"Europe needs new budgetary rules - rules that combine the need to re-establish public finances and allow for investment," Le Maire said after the meeting, describing its conclusions as "very good news".

The European Commission was now expected to come up with legislative proposals in coming weeks, he added.