Discipline: Belgium spared harsh fines by EU
The EU executive wants cuts in 2013 amounting to 1% of Belgian GDP, with 0.6% in 2014, which is an election year.
BRUSSELS:
The European Commission is set to rap Belgium this week for failing to do enough to trim its budget deficit but is unlikely to go as far as imposing a fine, according to a press report on Saturday.
“Belgium can breathe easy,” said business daily L’Echo ahead of the release on Wednesday of the Commission’s recommendations to European Union (EU) countries on how to remain on track with the bloc’s economic and budgetary targets. The EU executive wants cuts in 2013 amounting to 1% of Belgian GDP, with 0.6% in 2014, which is an election year.
It is unhappy with Belgium’s paltry 0.4% reduction in spending between 2010 and 2012, but after having agreed to give France and Spain extra time to bring their deficits down will not go as far as fining Belgium. “The Commission is concerned not to give the impression it is favouring a country over others,” the newspaper said.
Published in The Express Tribune, May 26th, 2013.
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The European Commission is set to rap Belgium this week for failing to do enough to trim its budget deficit but is unlikely to go as far as imposing a fine, according to a press report on Saturday.
“Belgium can breathe easy,” said business daily L’Echo ahead of the release on Wednesday of the Commission’s recommendations to European Union (EU) countries on how to remain on track with the bloc’s economic and budgetary targets. The EU executive wants cuts in 2013 amounting to 1% of Belgian GDP, with 0.6% in 2014, which is an election year.
It is unhappy with Belgium’s paltry 0.4% reduction in spending between 2010 and 2012, but after having agreed to give France and Spain extra time to bring their deficits down will not go as far as fining Belgium. “The Commission is concerned not to give the impression it is favouring a country over others,” the newspaper said.
Published in The Express Tribune, May 26th, 2013.
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