18 July: Spain and Portugal try to avoid SGP fines

July 18, 2016

Both countries have submitted to the Commission their arguments for only imposing symbolic sanctions, after the Council had decided on12 July thar Spain and Portugal had failed to take effective action on the Council recommendations of June 2013. According to the SGP rules, both countries had a week to convince the Commission not to impose a sanction of the full amount of 0,2% of GDP.

See also the news coverage by Euractiv: https://www.euractiv.com/section/euro-finance/news/spain-and-portugal-pledge-new-measures-to-avoid-eu-deficit-fines/ and Reuters http://uk.mobile.reuters.com/article/idUKKCN0ZY1MP

Tags: , , ,

« Back to News & Comments