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.
The German current account surplus requires deficits elsewhere
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
Source: Günther Oettinger urges action against Spain and Portugal over deficits – POLITICO
