According to reports in the Spanish media, six of the ten countries which joined the European Union at the weekend are to be warned that their budget deficit levels are in breach of the 3% of GDP ceiling set by the Stability and Growth Pact.
The new member states tipped for disciplinary proceedings are reported to be: Poland, the Czech Republic, Hungary, Cyprus, Malta, and Slovakia.
Speaking to reporters, the EU's new Economic Affairs Commissioner, Joaquin Almunia observed that:
"It would be a great mistake not to apply the rules of the treaty from the first instance."
Under the terms of their accession, all of the ten new member states will join the eurozone in the near future. They are scheduled to present their plans for converging with the terms of the Stability and Growth Pact on May 15, with the European Commission set to respond in mid-June.
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