Arab Today, arab today eurozone braced for eu economic report cards
Last Updated : GMT 16:51:54
Arab Today, arab today
Arab Today, arab today

Eurozone braced for EU economic report cards

Arab Today, arab today

Arab Today, arab today Eurozone braced for EU economic report cards

Brussels - AFP

Vulnerable eurozone giants brace Wednesday for annual economic and public finance report cards from Brussels that may demand policy changes, or else threaten fines. Issued for only the first time since Brussels was given the power to fine spendthrift states, all eyes will be on Spain, Europe\'s fourth-biggest economy. Many economists anticipate Madrid will have to ask for financial support from its 16 eurozone partners, while with foreign investors on the run moves are already afoot to create European-level banking safety nets. How the Commission handles France -- the No. 2 eurozone economy -- is also seen as a guage of how serious Brussels is about flexing new-found muscles. The power to hit governments in the pocket is arguably the key tangible to arise from the two-year debt crisis, as the European Union tries to take active control of potential problems across the single market. An early leak to Italy\'s La Stampa newspaper of 29 pages of recommendations for Mario Monti\'s caretaker government in Rome, seen by AFP, shows that euro commissioner Olli Rehn is exercising his authority. However the reports covering all 27 European Union states remain drafts likely to be watered down following discussions among the 27-strong cabinet of nationally-appointed commissioners. The one on Italy, for example, sees tough language struck out on a failure to crack down on tax evasion, and other actions demanded are also likely to dissappear. For Spain, much of the intrigue will centre on what its government is told to do about its deficit -- veering badly off target in a time of deep recession and massive unemployment. For France, the question is \"will the Commission dare to order the kind of fundamental reforms it needs to adapt long-term to new welfare models?,\" said one senior diplomat. As relentless austerity is blamed by critics for accelerating a plunge towards recession, Commission chief Jose Manuel Barroso underlined in a speech Tuesday that Brussels will try to use commonsense where cuts that run too deep could put nascent growth potential at risk. He said the Commission would seek to apply its mandate to ensure limits on deficit and debt levels in particular are adhered to in a \"growth-friendly and differentiated way.\" \"The Commission will monitor the impact of tight budget constraints on growth, enhancing public expenditure, and on public investment,\" he said. Rehn is due to unveil the finished reports around 1100 GMT.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozone braced for eu economic report cards Arab Today, arab today eurozone braced for eu economic report cards

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday