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Spain is among eurozone members that face the prospect of fines in the future (Photo: rahego)

Fines for deficit states more likely under EU plans

The European Commission has come forward with a major package of legislative proposals designed to keep member-state spending in check and prevent a repeat of the recent investor panic that threatened to break apart the 16-member eurozone.

Key components of Wednesday's (29 September) package include plans to pay closer attention to national debt levels and losses in competitiveness, together with a new system of fines for eurozone members that fail to adhere to the bloc's budgetary ru...

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Spain is among eurozone members that face the prospect of fines in the future (Photo: rahego)

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