The European Commission today announced that it is opening a ‘Excessive Deficit Procedure’ for Belgium, France, Italy, Hungary, Malta, Poland and Slovakia.
Reacting to the announcement, ETUC General Secretary Esther Lynch said:
“Forcing member states to make draconian cuts to public expenditure is a recipe for economic, social and political disaster.
“The obsession with deficit reduction completely misses addressing the challenges Europe is facing with the twin transitions. What Europe needs is social and green investments.