What to do, nothing?
Financial penalties are everywhere. If you overdraw your account at the bank, if you miss payments on the mortgage, if you fail to pay the minimum due on credit card accounts, you are charged extra. So why not nations?
Nations must manage their debt and their deficits and I believe, (but who knows for sure yet as nothing has been finalized), that the plan is if nations who fail to do manage their deficit apply for more loans, the interest rates will be higher.
How else to do it?
Pint-size luxury and funky style
Shopping for a new car this weekend? See how the BMW X2 stacks up against the Volvo XC40 in our side-by-side comparison.