Eurozone finance ministers were considering each other's draft national budgets for the first time on Friday, under a new procedure designed to uncover financial trouble in the crisis-laden currency bloc ahead of time, dpa reported. "Part of the process is that we question each other on what further measures could be taken, how the ministers assess the risks in their budgets," said Dutch Finance Minister Jeroen Dijsselbloem, who chairs the ministers' Eurogroup panel. But Brussels muddling in national finances has never proven particularly popular, especially when the European Union has waded into traditionally sovereign powers. "I think discussion, transparency also create a certain pressure," German Finance Minister Wolfgang Schaeuble noted. "And I think it contributes to each country making more efforts to stick to the rules." Last week, the bloc's executive warned five countries that they are at risk of breaching EU economic guidelines next year, after reviewing the 2014 financial plans - the first step in the new budget discipline exercise. The group includes Italy and Spain, the eurozone's third- and fourth-largest economies. -- SPA 20:01 LOCAL TIME 17:01 GMT تغريد
