The European Commission discusses fiscal imbalance of 14 member countries
Posted On 06 Mar 2014
The European Commission, conducted in-depth reviews of the economies of 17 member countries considered with macroeconomic imbalances.
According to the EU’s rules, if those imbalances are considered excessive, a country has to take action under the supervision of the European Commission to tackle the problem, or they could be fined. The Commission said that Belgium, Bulgaria, Germany, Ireland, Spain, France, Croatia, Italy, Hungary, the Netherlands, Slovenia, Finland, Sweden and United Kingdom have imbalances in their economies.
But these inequalities were excessive in Croatia, Italy and Slovenia, which means that now the Commission will monitor closely their economies, making sure that they implement the reforms that The EU Finance Ministers recommended.