Europe

EU warns Spain and Portugal

The budget discipline in Spain and Portugal leaves much to be desired in the view of the European Union. EU Commissioner Günther Oettinger wants to take punitive measures against both member countries.

The governments in Spain and Portugal would not have been reached in 2015 your financial obligations. If the Commission wants to preserve their credibility to be in compliance with Etatregeln, “we need to decide on penalties against Spain and Portugal”, said the CDU politician of the “Bild”newspaper.

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Rules must be adhered to

He added: “If we give us a common set of rules that must be adhered to. Everything else you can’t explain to the people,” stated Oettinger.

Previously, the EU-Vice-head of the European Commission Valdis Dombrovskis had argued, to impose speedy sanctions against Spain and Portugal. He is remembered in the “mirror” but also due to the fact that all the EU would have to decide commissioners together on such a proposal. The question should be “very soon” on the agenda.

The magic Three per cent mark

The Euro-the stability Pact provides for a deficit limit of three percent of economic output. Countries that violate the rules, threaten fines, which were previously imposed but never. The EU Commission had proposed to give the two countries a year, more time to Save, also with a view to the parliamentary elections in June in Spain.

EU-Commissioner Oettinger would like to squeeze in Spain and Portugal, no eye

Brussels had already launched in 2009 the excessive deficit procedure against Spain and Portugal because its borrowing was repeated about three percent of economic output. While in Lisbon make it this year, probably below the Three-percent mark, Madrid with 3.9 per cent, again significantly higher. The Commission’s decision on possible sanctions against the two Iberian countries falls expected on Tuesday.

haz/cgn (afp,dpa)