AFP - The eurozone Friday warned five countries led by Spain
and Italy to deliver on promises to hit deficit and debt targets in
national spending plans next year.
The Eurogroup of finance ministers and the European Commission put the five -- which also includes Finland, Luxembourg and Malta -- in the spotlight after a first-ever peer review of national eurozone budgets before being passed in national parliaments.
France too was told it must accelerate a reform drive, including an assurance to open up labour markets next year.
The broad aim of EU Economic Affairs Commissioner Olli Rehn's report and recommendations is to stimulate much needed growth and create jobs across the struggling European economy.
The Eurogroup of finance ministers and the European Commission put the five -- which also includes Finland, Luxembourg and Malta -- in the spotlight after a first-ever peer review of national eurozone budgets before being passed in national parliaments.
France too was told it must accelerate a reform drive, including an assurance to open up labour markets next year.
The broad aim of EU Economic Affairs Commissioner Olli Rehn's report and recommendations is to stimulate much needed growth and create jobs across the struggling European economy.


