After two general elections and 10 additional months of an institutional break, the president of the government in Spain has finally been determined.
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.