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Wednesday, September 21, 2016

Juncker issues WARNING SHOT to Spain: There will be NO MORE funds

Image result for spain broke

The European Commission has to re-rule on the possible freezing of funds for Spain, after consulting the European Parliament later this month or in early October.

It's thought president Jean Claude Juncker is in favour of applying the first sanction if the Spanish government fails to fulfil its commitments to start taking measures to reduce the deficit in the second half of 2016 and in their draft budgets for 2017.

Spain has been spared a fine of up to €2million (£1.7m) but could have €1.3m (£1.1m) of European Commission financial support frozen.

However, Commissioner of Economic Affairs, Pierre Moscovici has argued against punishing Spain for fear it could create a backlash against the eurozone project.

Credit to The Express.co.uk

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