According to Reuters, if the European Commission decides to grant more time to Spain and Portugal it would be a first in the two decades since such rules were introduced ahead of the launch of the euro. On the other hand, the Commission could recommend a symbolic sanction only so that fines would be set at zero.
“There is a chance that the Commission could recommend sanctions and at the same time recommend that they are reduced to zero percent” one official familiar with the issue said.
Such a solution would give the two European members states more time to fix their budget deficits but also the European Commission the credit that it is ready to apply the rules and that no misbehavior goes unnoticed.
Read the full story here: Exclusive – EU may fine Spain, Portugal for missing budget targets