Six of the ten countries who joined the European Union last week are to be warned that their budget deficits are too high, according to Spanish press reports
Published:
6 May 2004 y., Thursday
The warnings mark the first step in a disciplinary procedure designed to limit budget deficits - or surpluses - to less than three percent of GDP.
In theory repeated transgression from these rules could result in massive fines, however no such fines have ever been imposed and the new members are likely to be given significant leeway to put their books in order.
According to the Spanish financial daily Cinco Dias, Poland (with a deficit of 4.1%), Hungary (5.9%), the Czech Republic (12.9%), Slovakia (3.6%), Cyprus (6.3%) and Malta (9.7%), are all likely to receive warnings in the coming weeks.
According to newswire EFE, the new economic affairs commissioner, Joaquín Almunia, will propose next Wednesday (12 May) that disciplinary procedures be initiated.
The move is likely to be seen as a message that the new member states should move toward convergence with the euro zone's rules without delay.
Šaltinis:
euobserver.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The Prime Ministers have discussed the latest developments in Georgia as well as the September European Council dedicated for the matter.
more »
On 19 August, Lithuanian Minister of Foreign Affairs Petras Vaitiekūnas attended an extraordinary North Atlantic Council meeting, where he and other NATO Foreign Ministers discussed the situation in Georgia.
more »
Today, August 20, Wednesday, President Valdas Adamkus and President Valdis Zatlers of Latvia observe the Balts Will international coastal exercises of special operations forces.
more »
President Valdas Adamkus says that in the face of aggression against Georgia hasty calls are being made to change Lithuania’s defense strategy and return to its earlier conscription system.
more »
Aircraft of Lithuanian Air Force (LAF) C–27J Spartan took off from Tbilisi Airfield to evacuate 39 citizens of Lithuania from Georgia crisis region
more »
Today President of the Republic of Lithuania Valdas Adamkus participated in the meeting of presidents of the Lithuanian World Community and the World Lithuanian Youth Union.
more »
President of the Republic of Lithuania Valdas Adamkus has condemned the acts of vandalism committed against Lithuania‘s and Vilnius‘s Jewish community headquarters, and calls on law-and-order and special services of the country to identify the organisers and the perpetrators of these acts immediately.
more »
With deep concern and anxiety, we are observing the events in Georgia which at this moment is under intensive attacks by the army of the Russian Federation.
more »
According to the President of the Republic of Lithuania Valdas Adamkus, the international community should be worried about the military tension that has sparkled in Georgia.
more »