EU CAVES IN: Disaster-hit Spain and Portugal LET OFF shocking budget deficits

EU CAVES IN: Disaster-hit Spain and Portugal LET OFF shocking budget deficits
 

The two states failed to keep their budget deficits below three per cent last year, risking the wrath of Brussels policymakers.
After escaping stinging fines earlier this year, it was feared the two countries could have EU funds frozen as an alternative penalty.
Both governments are heavily reliant on EU aid and withholding support would have been a painful punishment to endure.
Yet the commission decided to show mercy and let both Spain and Portugal off the hook for their misdemeanours.
It's thought the policymakers want to avoid provoking any further backlash against Brussels.
But... read more

 
17 November 2016 in Business, Views: 42
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