European countries to be allowed to ease austerity
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
The European Commission has said it will allow some EU member states to slow their pace of austerity cuts, amid concerns over growth.
France, Spain, Poland, Portugal, the Netherlands and Slovenia are all being given more time to complete their austerity plans.
France will get two more years to bring its budget deficit below 3% of GDP.
Commission president Jose Manuel Barroso said the extra time must be "used wisely" to lift competitiveness.
The measures came as part of the European Commission's country-specific recommendations.
Spain, Poland and Slovenia will also get two more years to bring down their budget deficits though spending cuts and tax increases.
read more ...