The financial situation in Europe should become more stable in the future because of new rules endorsed by the European Parliament this week.
MEP’s in Strasbourg voted in favour of a new set of rules that will govern how Eurozone states manage their economies in the years ahead.
The ‘economic governance six pack deal’ provides a series of measures that should prevent the kind of housing bubbles and budget deficits that European countries have experienced.
The rules enable the European Commission to take action with member countries if they breach budgetary and economic policies.
And sanctions and fines can be imposed on countries that break the rules.
Independent MEP Marian Harkin was one of the MEP’s who supported the deal..
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