MACRO ALERT:
Tomorrow the EU Commission will presents the 2013 Country-Specific recommendation. Sounds boring but remember the voting rule have changed so it will take "an absolute majority against" for the EU Council to avoid these tough measures.
In other words: The EU Commission can enforce its two-pack and six-pack economic monitoring on countries - first up: Slovenia and maybe Spain, but Spain being major country may get of lightly, too lightly:
http://blogs.ft.com/brusselsblog/2013/05/will-slovenia-be-next-weeks-brussels-target/
This is KEY change to EU's working and I suggest reading up on it:
http://europa.eu/newsroom/calendar/event/439066/commission-presents-the-2013-countryspecific-recommendations
This is the 2012 EU Country recommendations:http://ec.europa.eu/europe2020/making-it-happen/country-specific-recommendations/2012/index_en.htm
I will make bigger comment in this week Steen's Chronicle.
Med venlig hilsen | Best regards
Steen Jakobsen | Chief Economist
Saxo Bank A/S | Philip Heymans Allé 15 | DK-2900 Hellerup
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