The European Commission will decide “soon” on deficit of Spain and Portugal – Spain Investing.com

BRUSSELS (Reuters) – The European commissioners on Tuesday discussed what steps to take against Spain and Portugal budget expenditure in 2013-2015 and will take a decision soon, said the office Commissioner for Economic Affairs, Pierre Moscovici.

“the commissioners had their first discussion today about the fiscal situation in Spain and Portugal. a decision will be adopted soon,” tweeted Simon O’Connor, cabinet member Moscovici, referring to a meeting in Strasbourg.

Spain and Portugal failed to meet last year’s budgetary rules of the EU, which requires that the deficit is below 3 percent of gross domestic product .

the Spanish economy minister in office, Luis de Guindos will travel on Wednesday to Strasbourg to discuss the deficit with Moscovici and Valdis Dombrovskis, a vice president of the European Commission, said a spokeswoman for the Ministry of Spanish Economy.

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