Brus­sels warns Lithua­nia and 7 other states of ex­ces­sive bud­get deficits

Baltic News Network - - Front Page -

The Euro­pean Com­mis­sion has on Novem­ber 16 an­nounced that Lithua­nia and eight other eu­ro­zone coun­tries could sur­pass the Euro­pean Com­mis­sion bud­get deficit limit.

All EU mem­ber states are re­quired to run bud­get deficits be­low 3% of their to­tal eco­nomic out­put, but only the 19 coun­tries that use the euro as a cur­rency can be fined.

BBC re­ports that the Euro­pean Com­mis­sion eval­u­ated that the eight – Italy, Lithua­nia, Spain, Por­tu­gal, Bel­gium, Cyprus, Fin­land, Lithua­nia and Slove­nia – risked «non-com­pli­ance» in 2017.

In Au­gust, Spain and Por­tu­gal avoided be­ing fined over their bud­get deficits, when the EU Coun­cil gave them more time to meet the rules and bring down their deficits.

REUTERS/SCANPIX

Euro­pean Eco­nomic and Fi­nan­cial Af­fairs Com­mis­sioner Pierre Moscovici/Photo:

Newspapers in English

Newspapers from Latvia

© PressReader. All rights reserved.