As crises balloon, so do EU nations' deficits
More and more EU countries are being thrown in the public spending sin bin over their mushrooming deficits, with Bulgaria expected to be added on June 3.
The European Union's second- and third-biggest economies, France and Italy, have already been handed formal reprimands alongside eight other member states.
The EU executive will publish its views Wednesday on each country's public spending and issue warnings where necessary.
Under EU rules, the public deficit — when government revenue is not enough to cover spending — must not be above three percent of gross domestic product.
