EUOBSERVER / BRUSSELS - The European Commission has said member state growth assumptions in budgetary plans submitted to Brussels are overly optimistic, suggesting upcoming national deficits could be worse than governments predict. Commenting on Wednesday (17 March) on the member state plans - known as stability and convergence programmes in EU parlance - the commission also said several member states need to provided greater details on how they intended to rein in their runaway budgets.
EUOBSERVER / BRUSSELS - The European Commission has said member state growth assumptions in budgetary plans submitted to Brussels are overly optimistic, suggesting upcoming national deficits could be worse than governments predict.
Commenting on Wednesday (17 March) on the member state plans - known as stability and convergence programmes in EU parlance - the commission also said several member states need to provided greater details on how they intended to rein in their runaway budgets.
Germany, France, Italy, Spain and Britain have all assumed stronger future economic growth than expected, according to the European Union's executive arm. The European Commission, the EU's executive body, examined the long-term budget plans of 14 member states, and said in its report that in the majority of cases, growth assumptions were "rather optimistic" meaning that actual budgetary outcomes "might be worse than targeted."
Germany, France, Italy, Spain and Britain have all assumed stronger future economic growth than expected, according to the European Union's executive arm.
The European Commission, the EU's executive body, examined the long-term budget plans of 14 member states, and said in its report that in the majority of cases, growth assumptions were "rather optimistic" meaning that actual budgetary outcomes "might be worse than targeted."
