EU warns eight nations on budget deficit

EU warns eight nations on budget deficit
 

The European Commission has warned that eight eurozone countries, including Italy, are at risk of breaking EU rules because of excessive budget deficits.
Under EU rules, member states are not supposed to run annual deficits greater than 3% of their total economic output.
But the Commission, which has the power to oversee eurozone countries' draft budgets, said the eight risked "non-compliance" in 2017.
The others include Spain and Portugal, which have already had a close call.
EU Economics Affairs Commissioner Pierre Moscovici sought to downplay the negative opinion against Italy,... read more

 
16 November 2016 in Business, Views: 44
Source: BBC
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