Home ECONOMICS AND BUSINESS Deferring the fine in Spain for the deficit is illegal, according to … – Pysn People and Society News

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The decision of the European Commission to deliver another year to Spain to reduce the deficit and to postpone until after the general election decision fining the state for the excessive deficit does not respect the rules. A legal report of the EU Council presidency commissioned by the Ecofin before the doubts he had about the legality of postponing economic sanctions makes clear that Brussels should make traps to avoid announcing a fine in Spain before 26 -J.

Under the rules of the Stability Pact, the European Commission could not have offered an extra year in Spain without having already driven the excessive deficit procedure to Spain. A process likely to end a fine. The report states, according to sources explained Council Friday that the rules allow give more time to reduce the deficit to Member States, but whenever “before or in parallel,” the procedure is fostered by failing to comply with reduction public deficit.

government pressure

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the European Commission, under pressure from the government of Mariano Rajoy to avoid fine weeks before the general elections, agreed to postpone the fine until July. The decision, which was taken in May, created unease among some member states, particularly Germany and the European Central Bank. At the last meeting of Ecofin, Berlin and the ECB demanded a legal report to analyze the legality of the decision.

Despite how quickly acted legal services, Brussels hardly fined state before the 26-J because there is only one Ecofin meeting on 18 June, before election insufficient to boost the excessive deficit procedure time.

Critical to the European Commission

The report, however, is an important notice to the European Commission, which accused Germany of acting for political reasons when applying the rules on the deficit. In an interview published Friday in the German newspaper Suddeutsche Zeitung, the president of the Eurogroup, Jeroen Dijsselbloem, also charges against the EU executive to make policy decisions. “The credibility of the Commission is committed,” says Dijsselbloem.

Source Ara.cat