EU to Announce Plans on Euro State Finance Control, Times Says

The European Commission will announce proposals to take tighter control of public finances of euro-zone states on Nov. 23, the Sunday Times reported, citing unidentified people in Brussels.

The plans would give the European Union’s regulator power to send budget inspectors into government departments of the 17 members of the currency union and officials may have the right to address parliaments to explain the commission’s views, the newspaper said. The regulations would also permit the commission to suggest changes to national budgets, the Sunday Times said.

To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net

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