He was commissioner for Monetary affairs in the European Commission presided by Romano Prodi (the Prodi Commission). The European Commission (formally the Commission of the European Communities) is the executive body of the European Union. ... (born August 9, 1939) is a centre-left Italian politician. ... The Prodi Commission was the European Commission from 1999 to 2004. ...
External links
Website of the Minister of Economy and Finance of Spain
PedroSolbes, the European Union's commissioner for monetary and economic affairs, issued a strongly worded warning to Germany, France, and Italy yesterday to act on their burgeoning budget deficits.
PedroSolbes, the EU's commissioner for the economy, yesterday warned the three largest euro-zone economies, Germany, France, and Italy, that they cannot "spend their way out of the slowdown," adding that short-term benefits of expansionary budgets would be outweighed by medium-term costs.
Solbes yesterday gave Germany four months to present a program for reducing its budget deficit from 3.8 percent of gross domestic product in 2002 to under 3 percent this year, as required by the Stability and Growth Pact underpinning the euro.