The court-room drama will take place in the Court of Justice in Luxembourg
Published:
1 April 2004 y., Thursday
The battle between the European Commission and the member states over the euro rules is due to commence in late-April, it emerged today.
The European Court of Justice confirmed in a statement that the first hearing in the case would be heard on 28 April in Luxembourg.
Sources at the Court said that legal teams for both parties will plead their case orally before judges in a case that could be settled as early as mid-July. But officials at the Court were unable to confirm how many judges would hear the case.
In cases of this nature, usually only one hearing takes place before a decision is made.
The case was brought by the Commission in January after finance ministers decided to suspend disciplinary action against France and Germany for breaking the rules that underpin the euro.
These rules state that countries in the euro zone - the 12 member states that share the single currency - must not run a budget deficit above three percent of gross domestic product (GDP) over a year.
This deficit ceiling has been repeatedly broken by Paris and Berlin - the euro zone's two biggest economies. The Commission therefore recommended that a disciplinary procedure be activated that could end in billion euro fines being levied on France and Germany.
But in a row that pitted smaller countries against the two economic giants, France and Germany persuaded other finance ministers to suspend the procedure.
This decision by finance ministers prompted the Commission - which is responsible for upholding the euro rules - to take the Council of member states to court.
Šaltinis:
euobserver.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Lithuania is the leader among new EU states in harmonising its laws with acquis communautaire
more »
Russian Government officials opened the way for a fire sale of Yukos' main production unit Yuganskneftegaz as payment for the oil major's crippling tax debts Tuesday
more »
The European Union on Monday approved the merger of Sony Music and Bertelsmann AG's BMG unit
more »
The Boston Consulting Group (BCG) has presented a report on investment opportunities in Poland
more »
Thursday YUKOS ex-chief Mikhail Khodorkovsky pleaded not guilty to charges including fraud and tax evasion
more »
With economic growth tagged at 1.6 percent this year, Germany may not appear to be the place for a good investment
more »
Dollar Advances After Report Shows U.S. Trade Deficit Narrowed
more »
The Czech Republic's year-on-year inflation rate rose to 2.9 percent in June compared with 2.7 percent in May
more »
Tele2 AB acquires 100% ownership in Tele2 Holding AS in Estonia
more »
Germany's Volkswagen seeks site for auto production in Russia
more »