EU agrees to tighten control over budget spending
After months of intense discussions, on March 15, European Union (EU) finance ministers meeting in Brussels, Belgium, agreed on six new draft laws to tighten budget-related regulations and punish overspending member governments, in order to avoid a new crisis.
After months of intense discussions, on March 15, European Union (EU) finance ministers meeting in Brussels, Belgium, agreed on six new draft laws to tighten budget-related regulations and punish overspending member governments, in order to avoid a new crisis.
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Financial sanctions will be applied to the 17 countries that use the euro.
The new draft laws would be part of a major effort to prevent a repeat of the debt crisis that rocked the eurozone last year.
It is expected that between now and next June, the European Parliament (EP) will seek a tougher stance in discussions on these draft laws.
According to VNA
