Brussels, 14/07/2015 (Agence Europe) - On Monday 13 July, the Council of the EU handed down a fine of €18.93 million to Spain following the misreporting by the Autonomous Community of Valencia of its budgetary data.
This is the first time that a member state has been fined on the basis of regulation 1173/2011 reinforcing the budgetary monitoring of the EU. The European Commission's investigation, which it opened in July 2014 (see EUROPE 11120), showed “serious negligence” in the...