France to Meet EU Budget Deficit Limit
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France will meet its European budget commitments in 2005, bringing its deficit under the 3 percent of the EU limit for the first time in four years, President Jacques Chirac said Wednesday.
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The EC ends action against France and Germany for breaching eurozone deficit rules as the two members vow to cut their 2005 deficits.
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Germany's budget deficit widened in the first half of this year, figures released Tuesday showed, but the government renewed its commitment to get the shortfall back within a European Union-imposed limit next ...
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EU Economic Commissioner Joaquin Almunia has decided to accept Germany's plan to bring its deficit back on track, a report said on Saturday.
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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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French Finance Minister Nicholas Sarkozy is to reveal his budget for next year on Wednesday.
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France's president is heading for a showdown with European finance ministers over the French economy.
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SCHEVENINGEN - The French public deficit is expected to come to 3.6% of output this year and around 3% or slightly less in 2005, Finance Minister Nicholas Sarkozy predicted.
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European Union finance ministers approved a French plan to cut its budget deficit below a 3 percent ceiling.
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BRUSSELS The European Commission froze disciplinary action against France and Germany on Tuesday, granting the two biggest euro-zone economies an extra year to bring their budget deficits down.
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France and Spain, holding annual summit talks in this northern city on Tuesday, have pledged to reach agreement on the delicate issue of the 2007-2013 EU budget, a French delegation source said.
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Gordon Brown has told his European counterparts that the British budget rebate remains &quot;fully justified&quot;. Attending a meeting of EU finance ministers on Tuesday, the chancellor sought to head off French demands
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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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France has unveiled a budget for 2005 which should bring its deficit back under European Union (EU) limits for the first time in four years.
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Economic growth in both France and the 12-nation eurozone is likely to be close to 2.5 percent for 2006, the governor of the French central bank said.
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France's economy had a growth spurt in the fourth quarter, according to figures published Friday, but its trade balance lurched into deficit in 2004 as the strong euro helped imports outpace exports.
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Britain is &quot;on track&quot; to reduce its public deficit in line with EU rules by an April deadline, but further spending cuts will be needed afterwards, the European Commission has said.