EU gives Spain more time, nudges France on deficit

The European Commission adopted on the 30 May 2012 a package of recommendations for budgetary measures and economic reforms to enhance financial stability, boost growth and create employment across the EU.

The recommendations were country-specific, taking account of the individual situation of each Member State. The Commission also issued recommendations for the euro area as a whole, and set out its vision for the EU-level policy action needed to complement the national measures to deliver an ambitious, two-tiered EU growth initiative. It also presented the conclusions of twelve in-depth reviews in the context of the Macroeconomic Imbalance Procedure and made recommendations to the Council relating to the Excessive Deficit Procedure.

• Primary Source

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European Commission: Speech/12/400: Algirdas Šemeta: Country specific recommendations http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/12/400&format=HTML&aged=0&language=EN&guiLanguage=en

EurActiv, 31.5.12: Barroso prepares calendar for ‘more EU integration’ http://www.euractiv.com/future-eu/barroso-readies-calendar-eu-inte-news-513044

European Commission: Speech/12/402: Opening remarks by President Barroso on the next steps for stability, growth and jobs http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/12/402&format=HTML&aged=0&language=EN&guiLanguage=en

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Deutsche Welle, 30.5.12: EU Commission doles out bitter pills for eurozone recovery http://www.dw.de/dw/article/0,,15985738,00.html

The Guardian, 31.5.12: As crisis worsens, Brussels still in denial (via PressEurop) http://www.presseurop.eu/en/content/article/2091411-crisis-worsens-brussels-still-denial

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