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MNI BRIEF: Brussels Not Recommending EDP Launch Vs Austria

The Commission has decided not to recommend the opening of an excess deficit procedure against Austria

MNI (LONDON) - The European Commission will not recommend the opening of an excessive deficit procedure against Austria following new fiscal consolidation measures presented by the country's finance minister earlier this week, a spokesperson said Friday. 

Brussels considers the measures concerned "to be a sufficient basis to bring the Austrian budget deficit down below 3% (of GDP) by the end of this year," Commission spokesperson Balazs Ujvari said.  

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MNI (LONDON) - The European Commission will not recommend the opening of an excessive deficit procedure against Austria following new fiscal consolidation measures presented by the country's finance minister earlier this week, a spokesperson said Friday. 

Brussels considers the measures concerned "to be a sufficient basis to bring the Austrian budget deficit down below 3% (of GDP) by the end of this year," Commission spokesperson Balazs Ujvari said.  

Keep reading...Show less