Economics
EU May State Spain, Portugal Sanctions Over Budgets Thursday
- Both countries said to face EU action due to public spending
- Decision was postponed in mid-May as Spain faced elections
on July 7, 2012 in Madrid, Spain.
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Spain and Portugal are facing the prospect of sanctions by the European Commission after repeatedly failing to rein in public spending.
European Union officials have concluded that neither government took effective action to adhere to EU budget-deficit rules, according to one person familiar with the discussions. An announcement may be made on Thursday, the person said.