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The EU has rushed to get budgetary surveillance laws into place to prevent a repeat of the current eurozone crisis (Photo: alles-schumpf)

Stronger budgetary surveillance laws up for agreement

by Honor Mahony, Brussels, February 17, 2012, 4:45:01 PM
1 co-observer

EU finance ministers meeting next week are set to sign off a first agreement on laws that would strongly increase Brussels' power to instruct eurozone countries on how to spend their national budgets.

Applying to the 17 members of the single currency only, the two laws require that all national budgets are presented to the commission for "assessment" at the same - by 15 October latest, suggests a draft of the agreement.

The EU executive would have the power to ask for a revision o...

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The EU has rushed to get budgetary surveillance laws into place to prevent a repeat of the current eurozone crisis (Photo: alles-schumpf)

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