The European Commission will decide Wednesday whether to issue fines to Spain and Portugal for exceeding the EU’s budget deficit limit of 3 percent of GDP.
The college of commissioners may impose fines, which can be set at a maximum of 0.2 percent of GDP, delay its decision, or give the countries more time to meet targets.
At last week’s college meeting, a majority of commissioners “agreed that both countries are candidates for stepping up the procedures,” a source in the room told POLITICO.
The EU has never used its power to sanction countries for breaching deficit rules since the creation of the …read more
Source: European Voice
