eu says no fines against spain portugal for excessive deficits
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

EU says no fines against Spain, Portugal for excessive deficits

Arab Today, arab today

Arab Today, arab today EU says no fines against Spain, Portugal for excessive deficits

European Commission
Brussels - Arab Today

 The European Commission on Wednesday held back from slapping fines on Spain and Portugal for running high deficits, in what would have been a landmark move by the EU to impose its budget rules.

"The college (of the EU's 28 commissioners) agreed today on the cancellation of fines for both countries" Valdis Dombrovskis, the commission vice president for the euro, said in a news briefing.

Under bloc rules, the EU executive could have imposed fines of up to 0.2 percent of national gross domestic product (GDP) against Madrid and Lisbon -- but instead showed clemency amid growing anti-Brussels sentiment highlight by Britain's Brexit vote.

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eu says no fines against spain portugal for excessive deficits eu says no fines against spain portugal for excessive deficits

 



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eu says no fines against spain portugal for excessive deficits eu says no fines against spain portugal for excessive deficits

 



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