The Ministers of Economy and Finance of the euro area showed today (11/07/2016) the consensus that Spain and Portugal did not take steps to reduce their deficits, as had undertaken measures, so have decided to support tomorrow a fine on both countries imposed
“the Eurozone members will vote tomorrow in favor of supporting the recommendations of the European Commission, unanimously.” said the president of the Eurogroup, Jeroen Dijsselbloem, the Following the meeting of the informal forum of ministers of the eurozone.
This means that, except surprise, morning eurozone partners will support in the council of ministers of Economy and Finance of the EU’s conclusion the European Commission (EC) that neither Spain nor Portugal took “decisive action” to meet the commitments they had made with their partners arrived.
the two countries may not participate tomorrow in the decision, to be those affected by the verdict, whose approval will open within 10 days the two governments to present their claims in order to avoid a fine.
Meanwhile, the Spanish acting minister of Economy and Competitiveness, Luis de Guindos, was becoming “more convinced” that the penalty could be imposed on Spain for failing to comply with their commitments to reduce the deficit will be “zero” euros. (EFE)
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