The European Union is preparing to impose sanctions on Spain and Portugal
12.07.2016
Today, Ecofin - the Economic and Financial Affairs Council – will consider the possibility of imposing sanctions on Spain and Portugal. Earlier, on 7th July, the European Commission made a similar recommendation. On July 11th, Ministers of Economy and Finance of the euro zone approved the initiative. The reason - the two countries have failed to bring the budget deficit to above the prescribed level.
