EC says 2014 member draft budget plans are at risk of breaking EU budget rules

• Italy, Finland, Luxembourg, Malta budget plans may break EU rules
• Says EU government debt set to stabilise
• Germany has made no progress on structural reforms
• Italy isn’t doing enough to reduce debt to GDP ratio
• Spain also at risk of non compliance with its 2014 budget, but has taken effective action on deficit
• No euro area budget in serious non compliance
• Says France must rigorously implement budget
• Croatia’s budget deficit is too high and will start disciplinary steps

The European commission is reviewing the draft budgets from member states before they go to national parliaments for finalising and making sure they are in line with EU laws. By the looks of things there’s still a long way to go before EU states meet targets.