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Economy & Jobs 11-04-2013

EU warns Spain, Slovenia over troubled economies

Brussels has warned Spain and Slovenia to take urgent steps to address their deepening economic problems or face a fine at the end of the month. Under the current rules, the EU can punish countries that do not correct excessive imbalances with a fine of 0.1% of their GDP. The warning came after the European Commission unveiled on Wednesday its second review of economic imbalances in 13 EU countries.