Bloomberg News

European Commission Plan Seeks Power Over Budgets, Figaro Says

June 26, 2012

The European Commission is working on a plan that would give it greater powers to oversee budgets of countries using the euro, Le Figaro reported, citing unnamed European Union officials.

Under the proposal, governments would have to inform the commission of all decisions being planned on state taxes and spending before presenting their budgets and the commission would give its opinion on all amendments presented in national parliaments, Le Figaro said. The commission would decide whether to impose sanctions if it concluded that a national budget broke EU treaties, the newspaper said.

To contact the reporter on this story: Gregory Viscusi in Paris at gviscusi@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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