Neither country respected their self-imposed budget obligations in 2015, the German commissioner said.
He wants to fine Portugal and Spain .2% of their GDP for not keeping their deficit low? This shows a complete misunderstanding of how government deficits work. Germany should be fined for having excessive surpluses because that is the exact reason the other member states all have deficits.
Günther Oettinger: 'We have to sanction Spain and Portugal' https://t.co/FhNgvjboum
What about sanctions for Germany's excessive surpluses?
— Theo K (@tkouvakas) July 4, 2016