The European Commission has sent a warning to France, Italy, Romania and Slovakia over their spending plans for the coming years, with an extra heap of criticism for Paris and Rome for their reluctance to sign up to an EU-wide goal of fully slashing public deficit by 2010.
Presenting the regular reports on the four countries on Wednesday (30 January), EU economy commissioner Joaquin Almunia recommended cuts in budgetary expenditure and further structural reforms as key goals for all of them, suggesting they should be "more ambitious" in their planning.
Although the country managed to cut its budget deficit "well bellow 3% in 2007" - which is the EU's allowed ceiling – Brussels doubts the likelihood of Rome eliminating its deficit by 2011. It also warned about its public debt, currently at 106.8 percent of GDP.
READ MOREPresenting the regular reports on the four countries on Wednesday (30 January), EU economy commissioner Joaquin Almunia recommended cuts in budgetary expenditure and further structural reforms as key goals for all of them, suggesting they should be "more ambitious" in their planning.
Although the country managed to cut its budget deficit "well bellow 3% in 2007" - which is the EU's allowed ceiling – Brussels doubts the likelihood of Rome eliminating its deficit by 2011. It also warned about its public debt, currently at 106.8 percent of GDP.
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