The Hindu : International / Globescan : E.U. nations' move illegal: court

Online edition of India's National Newspaper
Thursday, Jul 15, 2004

International

International - Globescan

E.U. nations' move illegal: court

Brussels: Europe's highest court ruled on Tuesday that the E.U. Governments had acted illegally in ignoring a call to punish France and Germany for violating budget rules — a decision that fuelled demands to reform the way the Eurozone works. The ruling by the European Court of Justice was welcomed by the European Commission, which was humiliated last year when its recommendation was overruled by the member-States. Romano Prodi, Commission President, said he was delighted with the outcome, . Paris and Berlin, which could have faced enormous fines, also claimed to have been vindicated. Last November's decision by the Ministers was seen as a mortal blow to the stability and growth pact, which says the Eurozone budget deficits must stay below 3 per cent of gross domestic product. The court said Ministers did have the right to change commission recommendations but that they had failed to respect the rules when they suspended disciplinary action. —

- Guardian Newspapers Limited 2004

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