Belfast Telegraph

Home News World

EU proposes fining Spain over data

European Union authorities have used their increased financial oversight of national governments for the first time, recommending that Spain be fined almost 19 million euro (£14 million) for manipulating economic statistics.

The European Commission, the EU's executive branch, has won new powers in recent years to monitor the finances of European governments.

Much of the blame for the continent's recent debt crisis was placed on misreported and unreliable government accounting.

The commission said its investigation found that the Spanish regional government of Valencia was "seriously negligent" in recording health expenditure, leading to Spain's "incorrect reporting" of its national deficit data in 2012.

It said Spain co-operated with the investigation and that the deficit numbers were corrected later in 2012.

The sanction must be approved by EU leaders.

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?


From Belfast Telegraph