EU Presidency Warns Nations on Deficits
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The European Union on Thursday warned four countries - Germany, Italy, Portugal and Greece - that they risked violating budget rules next year if they do not further cut deficits.
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BRUSSELS The European Union&#39;s executive arm issued a bleak economic report on Tuesday, warning that the sharp rise in oil prices would &quot;take its toll&quot; on economic growth next year while the euro&#39;s renewed climb could threaten exports.
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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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The European Union has warned Ukraine that irregularities already evident in the run-up to the presidential elections on 31 October may harm ties with the bloc.
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The European Commission cut its growth forecast for 2005, saying record oil prices will damp global demand and warned that five of the 12 countries using the euro will post deficits at or above European limits next year.
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BRUSSELS, Belgiumââ A top European Union official urged the United States on Monday to curb its deficits to help bolster the sagging dollar amid fears a strengthening euro would stifle EuropeÂ´s fledgling economic recovery.
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European finance ministers clashed over German Chancellor Gerhard Schroeder s plea for looser budget rules, with Austria and the Netherlands warning that wider deficits would push up inflation and interest ...
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European Union finance ministers said yesterday that Europe and the US must both act to stem the euroâs rise against the US dollar.
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Europe's economy faces a rougher time in 2008 than last year in the face of financial market stress and surging oil and food prices, the European Union's Slovenian presidency warned Tuesday.
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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 Union told Italy, France and Germany &#151; the three biggest economies in the euro area &#151; Wednesday to do more to bring their budgets in balance as required by the rules of Europe's single currency.
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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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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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German Chancellor Gerhard Schroeder called on the Paris Club of creditor nations Wednesday to suspend debt repayments from countries ravaged by this week&#39;s earthquake and tsunamis
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A top European Union official Monday urged the United States to curb its deficits to help bolster the sagging dollar amid fears a strengthening euro would stifle Europe's fledgling economic recovery.
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Europe stepped up verbal attacks on the United States over its yawning deficits but failed to arrest the euro's record-breaking, and economically damaging, rally against the dollar.
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Treasury Secretary John Snow pledged to reduce the U.S. budget deficit, blamed by Europeans for the euro s gains against the dollar and cited as a risk to global growth by ministers from 20 industrial and ...