Brussels, 31/05/2013 (Agence Europe) - Belgian Green MEP Philippe Lamberts says that the European Commission handed Belgium a poisoned chalice in its country-specific recommendations published on 29 May (see EUROPE 10855). The Commission decided in fact not to fine Belgium for failing to meet its budget targets in 2012 and gave it an extra year (until 2013) to reduce its deficit to 2.7% of GDP and improve its structural balance by 1%. Lamberts said this means that an improvement of €3.8 billion needs to be made to avoid a fine of 0.2% of GDP, in other words double the improvement made in 2012.
Belgium is due to unveil by 21 September 2013 details of measures it has taken to achieve its budget targets. The Commission will closely monitor changes in the situation though the quarterly reports it is requiring Belgium to make on its progress. Lamberts says that Greek-style monitoring is not far off.
Philippe Lamberts asks why the Belgian government has not made more of the argument that its failure to meet the budget targets is due to the poor global economic situation, because on these grounds it would have been allowed to have its budget targets relaxed, as long as the country achieves its structural target (in other words not including costs due to the economic crisis). (EL/transl.fl)