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
European cities may still be feeling the pinch of the global recession.
more »
The EBRD Board of Directors has approved a $50 million convertible loan to Petrolinvest to finance the completion of exploration works at the company’s main oilfields.
more »
The European Commission welcomes the adoption today at the United Nations in Geneva of the first international regulation on safety of both fully electric and hybrid cars.
more »
Bloomberg has today announced that Lithuania had the outlook on its credit rating raised by Fitch Ratings after the Government implemented an austerity program to curb the budget deficit.
more »
In January 2010, compared with December 2009, the highest increase in retail trade in the EU-27 Member States was observed in Lithuania.
more »
Three thousand former car, refrigerator and construction workers in Germany and Lithuania will get €7.6 million in EU globalisation adjustment fund aid for training, self-employment and job guidance after Parliament gave the green light on Tuesday.
more »
Some 80% of Europeans continue to travel for their holidays according to a new Eurobarometer survey on ‘The attitudes of Europeans towards tourism 2010’.
more »
The EU's internal market will be under scrutiny Tuesday when a series of reports will be debated by MEPs in Strasbourg.
more »
EU Employment and Social Affairs Ministers today agreed on a new facility to provide loans to people who have lost their jobs and want to start or further develop their own small business.
more »
Over €7.6 million in financial aid for training and self-employment could be available to former workers in German and Lithuanian if MEPs back the measures Tuesday.
more »