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Europe

EU Likely To Sue Over Suspension of Euro Pact

The European Commission is set to decide Tuesday that it will push ahead with legal action against euro zone member states fortheir effective suspension of the euro rules last November.

The European Commission is set to decide on Tuesday that it will push ahead with legal action against euro zone member states for their effective suspension of the Stability and Growth Pact which helps provide monetary stability for the euro last November. The Financial Times quoted Commission officials on Monday as saying there is a small majority of commissioners in favor of taking the case to the European Court of Justice in Luxembourg following a legal opinion last week that ruled euro zone finance ministers, including those of Germany and France, had acted illegally at their stormy November summit. The expected vote, which will be carried by a simple majority, has sharply divided the Commission. ( EUobserver.com)