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“Brussels to fine spendthrift countries,” headlines Le Figaro Économie, reporting on the “anti-deficit arsenal” unveiled on 29 September in Brussels. Specifically, the Commission intends to sanction countries that exceed debt ceilings under the stability pact by demanding a deposit equal to 0.2% of their GDP. This deposit may turn into a fine if the refractory country then fails to heed European recommendations. However, the sanctions won’t be triggered automatically, the French daily points out, but “once decided, they cannot be blocked by a country unless it succeeds in marshalling a qualified majority [of Council members] within ten days”. While they agree in principle, the EU 27, who still have to approve these proposals, differ on how severe the sanctions should be. Paris, in particular, wants a simple majority for a blocking vote, which is less difficult to obtain, whereas Berlin “is prepared to go further than the Commission”.
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