Madrid - Spain and Portugal are facing the prospect of sanctions by the European Commission after repeatedly failing to rein in public spending.
European Union (EU) officials have concluded that neither government took effective action to adhere to EU budget-deficit rules, according to one person familiar with the discussions. An announcement may be made on Thursday, the person said.
The commission, the EU’s executive arm, will adopt the "necessary" measures very soon, EU Economic Affairs Commissioner Pierre Moscovici told reporters in Strasbourg Tuesday.
