EU government involves application of economic sanctions to France, Spain and Slovenia, as these countries don't cope with reforms and didn't reduce the levels of their public debt. These sanctions will be introduced for the first time for modern history of Europe.
Experts expect that the commission's report, which will be given on Wednesday, France, Slovenia and Spain will be exposed sharp criticism for inability of carrying out the necessary reforms and national debt reduction.
Let's remind that according the legislation of the euro zone, which has recently been approved if the EU countries can not self-correct "macroeconomic imbalances", to them sanctions and serious penalties will be applied, up to carry out the necessary reforms in the country "over the heads" of national governments. Under the law, introduction of sanctions against the certain countries can be cancelled, if the majority vote against such decision.
According to some forecasts, the first country which will get a mode of the sanctions may be Slovenia, as the financial crisis proceeding in the country already compare with the Cyprus and European officials believe that Slovenia should be to "save" this summer. Spain and France - the next in line.
So, France have been allocated preliminary terms till 2015, in which the government needs to carry out the required reforms. Otherwise for them it will be made by EU authorities.
The euro exchange rate forms correction to a descending trend and traiding at 1,2927 - analysts at the online learning department of Trading Systen Masterforex-V explain. The next important supports are lows 1.2795, 1.2744 and 1.2660. Resistance is located at the high of 1.3242.
