Wouter Bos, via het FD:
So I applaud the new sanctions and the new rigour in the various budgetary rules but it does not necessarily tell us much about what will happen in practice. I remember when I was a minister a meeting with all the European Finance ministers who all agreed that one particular country –I will mention no names but it can be found more or less between Belgium and Spain- did not stick to the rules. But when I wanted to discuss the possibility of sanctions, I was told that Europe sanctioning this particular country would basically be the end of Europe. Whether that is changed, I doubt it.