BRUSSELS (Reuters) - Eurogroup President Jeroen Dijsselbloem said on Wednesday that he was disappointed with the European Commission's decision not to levy fines against Spain and Portugal for failing to bring their budget deficits below the EU cap.

"It is disappointing that there is no follow up on the conclusion that Spain and Portugal did not take effective action to consolidate their budgets, Dijsselbloem said in a statement.

"It must be clear that despite all the efforts already taken, Spain and Portugal are still in danger."

He said he would wait for the EU executive to clarify its decision and also discuss the issue with other euro zone countries.

(Reporting by Jan Strupczewski, writing by Foo Yun Chee)