Greece Broke European Union Budget Rules
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Greece broke European Union budget rules before joining the euro, the country's conservative finance minister said Wednesday, criticizing his socialist predecessors.
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The European Union's reputation for budgetary correctness, already tarnished in recent years, took a beating this week when Greece admitted to grossly under-reporting its deficit figures.
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Defenders of financial rigour in the European Union attacked Tuesday a German call for a radical overhaul of the eurozone's budget rules at a lively meeting of EU finance chiefs.
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A 24-hour nationwide strike against the Greek government's pension reforms crippled transport on Wednesday and shut down public services as unions prepared for a large rally in Athens.
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The European Commission believes Spain broke EU law by imposing protectionist measures over Endesa.
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European Union finance ministers told Greece it had to take immediate steps to control its public deficit, which they said had consistently exceeded eurozone regulations.
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The European Union will consider giving Greece until the end of 2006 to cut its budget deficit to below 3 percent of gross domestic product, Greek Finance Minister Giorgos Alogoskoufis said Wednesday.
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The UK broke EU laws in how it taxed company dividends originating outside the UK, the European Court of Justice rules.
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A multimillion-euro software piracy ring has been broken following synchronized raids in Athens and London yesterday, Attica police said.
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With half the European Union countries exceeding public deficit limits this year, the EU&#39;s head office bowed to reality Friday and proposed to be more flexible in how it enforces the budget rules underpinning the euro.
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GREECE fiddled its way into the European single currency and should not have been allowed to join, according to the European Commission and other members of the euro.
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The European Union warned Friday a reintroduction of a state of emergency by Fiji&#39;s military regime could break undertakings on which hundreds of millions of dollars in EU aid depend.
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US Secretary of State Colin Powell's resignation fills many editorial pages in Europe's papers on Tuesday. But there is also indignation at Greece's admission of flouting EU rules and shock in Denmark as a prince is caught speeding.
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The European Commission is to warn Greece about publishing false information about its public finances.
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Germany looked set to breach the EU's strict budget rules for third year in a row this year as its public deficit soared to a massive 4.0 percent of gross domestic product in the first six months, data showed.
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The European Commission is warning Greece about publishing false information about its public finances.
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The EU's new budget chief criticised calls by the bloc's richest states to limit EU spending to one percent of gross national income (GNI), saying it would not amount to a freeze but a big funding cut.