the EU Member States have introduced the single currency, the euro, is obligated to reduce the deficit to less than 3% of GDP = GDP. However, confidentiality standards after it received a hefty financial assistance, more EU budget deficit exceeded this standard starting in 2009 in Spain and Portugal, from the European Union, has sought repeatedly to improve.

and held the meeting of EU Finance Ministers in Brussels Belgium 12, amid the scant commitment to fiscal consolidation in Spain and Portugal have agreed to the sanctions policy. Into the specifics of the sanctions that hit the EU's Executive Body European Commission within 20 days coming up in GDP of 0. You may be fined in the amount of 2%.

the EU is mired in debt crisis Greece in 2009 and growing credit fears in Europe makes the case for the first time since, and put the power to maintain fiscal discipline, if sanctions are invoked. However, as EU and consideration of the political and economic impact, while reviewing the sanctions cause political instability, increasing of public unhappiness over the austerity measures prolonged in Spain and Portugal, and other.