EU braces for stormy budget haggle
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The European Union's new Luxembourg presidency pledged to do all it can to thrash out agreement in expected stormy budget haggle over the next six months, despite a clouded electoral outlook.
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The threat of a constitutional crisis hangs over the EU as MEPs vote on whether to veto the new commission.
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The European Central Bank and European finance ministers are unhappy with the Euro&#39;s surge. To this end, they vowed to closely monitoring exchange rate swings.
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The European Commission's former chief accountant, who said the EU budget was open to fraud, will fight her dismissal.
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European Union leaders began a crucial summit on Thursday with hopes of an agreement on reforms of the bloc's creaking institutions hanging in the balance over demands made by Britain and Poland.
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Eurozone finance ministers expressed disquiet at a new surge in oil prices with France calling for urgent action by the European Union to address the latest threat to the bloc's economic growth.
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The European Union head office said Tuesday it had concerns over Italian budget deficit figures, only a week after Greece was challenged over alleged sloppy bookkeeping and possible underreporting of deficit figures.
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European Union leaders already bicker about the future. At a summit meeting opening Thursday, even the past is bound to cause discord.Comment
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BRUSSELS  - Eurozone finance ministers were to focus at a meeting on the rise of the single currency to record levels against the dollar, with swelling deficits also set to share the limelight.
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The European Commission yesterday cut its growth forecast for 2005 and warned that nearly half of euro zone members were set to breach their own budget rules, as surging oil prices hit a fragile recovery.
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European Union leaders headed for a  showdown on Thursday over efforts to overhaul the bloc&#39;s  creaking institutions, but chances of agreement appeared to be  rising after chief critic Poland softened its tone.
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The European Union&#39;s top monetary official said Tuesday he was concerned over Italian budget deficit figures, only a week after Greece was challenged over alleged sloppy bookkeeping and possible underreporting of its deficit to present a rosy economic
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The European Union&#39;s economy commissioner said in a newspaper interview Friday the bloc is worried about the low level of the dollar against the euro.
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European finance ministers clashed over Franco-German proposals to harmonise EU corporate taxes to prevent lower-cost member states grabbing too much of the investment pie.
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The European Commission defended on  Monday its 3.4 billion euro ($5 billion) cost forecast for the  Galileo satellite navigation program following a report the  budget is bound to be seriously overrun.
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France and Germany&#39;s bruising dispute with Brussels over their big budget deficits is expected to be suspended next week after both countries claimed they would comply with EU rules in 2005.
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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.