European Commission to not impose sanctions on Spain and Portugal

Baku. 27 July. REPORT.AZ/ The European Commission recommended on Wednesday not to impose fines on Portugal and Spain for missing their 3 percent GDP targets.

Report informs, newspaper El Pais writes citing the sources.

In early July, EU finance ministers agreed to start formal introduction of sanctions procedures against Spain and Portugal for failing to reduce the budget deficit before deadline.

Finance Ministers Council "established that Spain and Portugal have not taken effective action in accordance with recommendations given to them to reduce the budget deficit."