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No Grounds to Impose Sanctions on Spain Over EU Deficit Rules' Violation

© AFP 2021 / PEDRO ARMESTREThe Spanish flag and the European flag
The Spanish flag and the European flag - Sputnik International
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Spanish acting Minister for Economic Affairs and Competitiveness Luis De Guindos Jurado said that Spain had faced economic difficulties in the past but at the moment, the country's economy was growing.

Flags near the European Commission's headquarters in Brussels - Sputnik International
Spain, Portugal May Face Fines After Violation of EU Deficit Rules - EC
MADRID (Sputnik) — Spanish acting Minister for Economic Affairs and Competitiveness Luis De Guindos Jurado said Monday that he was convinced that the European Union would not impose sanctions on Spain over its violation of the EU deficit rules, as there is no ground to impose such restrictions.

"I will provide my arguments for sanctions on Spain not to be imposed, for sanctions to be zero. Every day, I am getting more convinced that there will be zero sanctions… It would be unreasonable to impose sanctions on Spain," he told journalists before a Eurogroup meeting in Brussels.

He stressed that Spain had faced economic difficulties in the past but at the moment, the country's economy was growing.

"We contribute to the growth of the EU economy," he stressed.

Edificio Metropolis building on Gran Via Street. Madrid - Sputnik International
Spain Needs to Fulfill Budget Deficit Obligations to EU – Spanish Lawmaker
Last week, the European Commission issued a "failed" grade to Spain and Portugal for missing the deadline to correct excessive deficit, risking fines and the suspension of funds.

According to the EU Commission, Spain's 5.1-percent of GDP deficit last year was well above the targeted 4.2 percent, while Portugal missed its 2.5-percent target, registering a 4.4-percent deficit.

Spain is among the EU countries that were hit hardest by the aftereffects of the 2007-2008 economic crisis.

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