The European Union on Wednesday took seven member states to task over excessive spending. The assessments of the 27 EU states' budgets and economies will be published by the European Commission on Wednesday, with France, Italy, and Belgium among the member states to be reprimanded over their accumulated excessive new debt.
The EU suspended debt and deficit regulations to help countries cope with the economic fallout of the COVID-19 pandemic and Russia's invasion of Ukraine. The rules are now back in place, and any EU country exceeding debt and deficit limits runs the risk of legal action.
#eu-disciplinary-proceedings #debt-regulations #covid-19-economic-fallout #deficit-limits #european-commission
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