Negotiators from the European Parliament and European Union member states have agreed on reforms to the bloc’s debt rules, according to Belgium, which currently holds the EU’s rotating presidency. The reforms are designed to better consider the individual fiscal situation of each EU country and allow highly indebted member states more flexibility to reduce debt and budget deficits. At the same time, there are to be clear minimum requirements for the reduction of debt ratios for highly indebted countries. Although finance ministers from EU countries had reached an agreement at the end of last y…