Germany ahead of target on timetable for curbing public deficit
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Germany looks set to cut its budget overspending back within EU limits for the first time in five years this year, finance minister Peer Steinbrueck has indicated.
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The Commission has lifted the excessive deficit procedure, first launched in 2003, against France and Germany. But already there are doubts about Germany respecting the rules in 2005.
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Germany's public deficit amounted to 4.0 percent of gross domestic product in the first six months of the current year, well above the EU limit of 3.0 percent, official data showed.
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A fresh round of mass demonstrations over proposed cuts in welfare spending is set to take place in Germany.
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German Finance Minister Eichel called for the euro&#39;s &quot;brutal&quot; rise versus the dollar to be put on the agenda of the summit of G20 countries in Berlin this weekend amid concerns the greenback&#39;s slide could hit EU growth.
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German Chancellor Angela Merkel will hold her first summit with the leaders of France and Poland on Tuesday, less than a month before Berlin takes over the European Union presidency amid high hopes that it can resolve power struggles in the bloc.
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The reforms to the EU's stability and growth pact will help to defuse the escalating two-year crisis which has seen France and Germany repeatedly flout its deficit rules.
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Germany is undergoing a surprisingly robust economic rebound while Angela Merkel's divided government is facing accusations of immobility. Is the recovery sustainable and are the country's leaders missing the golden opportunity afforded by the supportive environment to forge ahead with structural reforms?
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Trade and climate set to top agenda as German Chancellor Angela Merkel heads to China and Japan.
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FRANKFURT : Germany's long-term unemployed are looking for ways to cut their outgoings as they brace for the introduction of reforms on Saturday that will slash the welfare payments of many.
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German Chancellor Gerhard Schroeder calls for radical reform of the EU's stability pact, designed to keep countries budget deficits in check.
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PARIS: France's 2005 budget will cut the public deficit by about 10 billion euros and push it below the European Union's 3 percent ceiling, Prime Minister Jean-Pierre Raffarin said in an interview to be ...
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Germany is selling a 4.45 billion-euro ($5.5 billion) stake in Deutsche Telekom AG, making it the fourth European government to sell state assets in the past six weeks to help reduce a deficit that exceeds European Union limits.
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Germany raised its forecast for this year&#39;s budget deficit, saying declining tax income and increased spending on the unemployed will push the shortfall further beyond European Union limits for a third straight year.
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The German government will take on an extra 14 billion euros (&#36;17.23 billion) in debt this year because the country's economic upturn so far has failed to boost tax revenue, taking new borrowing to a record level, the finance minister said Wednesday.
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The German government has said surging oil prices are on track to cut economic growth by about 0.25% this year.
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German inflation looks set to slow slightly this month, regional consumer price data showed on Friday.