Spain risks missing 2015 and 2016 deficit targets — Brussels report

The European Commission decided on 6 October 2015 to postpone its opinion regarding Spain's budget for 2016, contradicting early indications on the previous day by Commissioner Pierre Moscovici which pointed to a negative assessment of the document.

Mr Moscovici had stated the country ran a serious risk of missing its deficit target for 2015 and 2016, meaning that whatever government emerging from the general election on 20 December 2015 would have to adjust the budget accordingly.

The postponement was seen as a sign that some other Commissioners failed to agree with Mr Moscovici's negative verdict on Spain. The commissioner was also criticised by Spain's economy minister Luis de Guindos and by his German counterpart Wolfgang Schäuble, who accused Mr Moscovici of being too tough on the country.

ESO: Background information: Spanish growth outstrips stalled eurozone partners http://www.europeansources.info/record/spanish-growth-outstrips-stalled-eurozone-partners/

EurActiv, 07.10.15: Commission rebukes Moscovici's hawkish stance on Spanish budget http://www.euractiv.com/sections/euro-finance/commission-rebukes-moscovicis-hawkish-stance-spanish-budget-318284

EUObserver, 07.10.15: EU Commission faces infighting on Spanish budget https://euobserver.com/economic/130586

European Commission: DG Economic and Financial Affairs: EU Economic situation: Economies of the EU Member States: Spain http://ec.europa.eu/economy_finance/eu/countries/spain_en.htm

European Commission: DG Economic and Financial Affairs: EU economic governance: Stability and Growth Pact: Draft budgetary plans of euro area Member States http://ec.europa.eu/economy_finance/economic_governance/sgp/budgetary_plans/index_en.htm

European Commission: DG Economic and Financial Affairs: EU economic governance: Stability and Growth Pact: Draft budgetary plans of euro area Member States: Spain 2016 (in Spanish) http://ec.europa.eu/economy_finance/economic_governance/sgp/pdf/dbp/2015/2015-09-11_es_dbp_en.pdf

EurActiv 08.10.15: Mariano Rajoy’s woes mount ahead of Spanish elections http://www.euractiv.com/sections/eu-priorities-2020/mariano-rajoys-woes-mount-ahead-spanish-elections-318319

Politico, 13.10.15: Rajoy’s reelection bid hits a budget snag http://www.politico.eu/article/brussels-blocks-spains-budget-before-election-rajoy-domobrovskis-moscovici/

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