On Monday 5 December, Eurogroup endorsed the European Commission’s recommendations on the planned 2017 budgets sent in by eighteen eurozone nations. Since Greece is subject to a financial bailout plan, it is covered by different procedures.
The budget plans of eight countries risk infringing the Stability and Growth Pact (see EUROPE 11669). Six others – Belgium, Italy, Cyprus, Lithuania, Slovenia and Finland – are within the ‘preventive’ arm of the SGP (deficit below 3% of...