The allegations made by Madrid are that Busquets called their player Marcelo, "Mono, Mono" ( Monkey , Monkey) to which FC Barcelona counter-claimed saying it was instead "Vaya Morro, Vaya Morro" ( translated roughly: lot of nerve, lot of nerve- or lot of face). Here is a video that captures the moment during the Real Madrid - FC Barcelona Champions League semi-final clash:
FC Barcelona , Real Madrid , Busquests, Marcelo etc are not my concerns here & UEFA has taken a decision that they will have to answer for if anyone wishes to take that up with them. Where I do take a stand is against any type of Racism in private, professional or Sporting life. Racist comments are out of order & totally unacceptable. Europe in the last years is undergoing a rise in xenophobic & racist sentiments that are unfortunately spilling into Sports, & UEFA as the European Authority on Football matters & its supervisor has not been up to the task in curving this tendency across European Football.
This incident is just one of many across European grounds that need to be attended to & if necessary heavily sanctioned with serious fines, penalties & if called for banning from competition. Today's decision will give excuses to those interested parties that are selling "conspiracy theories" that are not needed.
The big loser today is UEFA which continues to lose credibility. Perhaps someone should have screened this UEFA promotions video before taking a decision. But not only on Racism, also on faking, cheating, unsportsmanlike actions... etc.in European Football in general.