European fine against Spain for handling debt and deficit statistics Valencia

It is the first time that a fine is imposed on a Member State, in applying the new rules adopted in 2

The European Union has imposed a fine of Spain 18.9 million for manipulating data deficit Valencia, as it has announced in a statement. The penalty stems from a report by the European Commission warned of serious negligence by the absence of registration of health expenditure and breach of the principle of accrual accounts, which means a notice incorrect data deficit. It is the first EU member state fine for data manipulation, under new regulations approved surveillance fiscal 2011.

The amount of the fine proposed by the European Commission, has been reduced by 20% the amount planned for the EC considers that the distortion of the data is not 'intentional' but the result of a 'serious negligence' and considers the cooperation of the Spanish authorities during the investigation.

According to research by the EC, began in July last year, the General Comptroller of the Generalitat Valenciana incurred 'gross negligence by the absence of registration of medical expenses and gains in breach of the principle of national accounts '. This 'took notice incorrect data deficit of Spain' to Eurostat, the European statistical office in March 2012.

The Commission report concludes that the distortion of the data did not have a significant impact on the operation of enhanced economic management of the Union, given the limited impact on the deficit of the whole of Spain.

Concludes further that the correct figures were reported shortly after having published incorrect in April 2012, which allowed to review the data deficit in Spain even 2012. These items justify a reduction in the amount of the fine.