Germany to breach EU budget limit again
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Germany risks violating the EU&#39;s tight budget rules again next year, the Bundesbank warned on Monday. The three-percent-mark of the gross domestic product (GDP) willprobably
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Incoming European Commission President Jose Barroso says he wants to dramatically increase the EU&#39;s budget, but Berlin, struggling with its own budget deficit, has adamantly resisted the plan.
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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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Four euro zone countries risk breaching the European Union's budget deficit limit next year, Dutch Finance Minister Gerrit Zalm said, as record high oil prices cast a shadow over the economic outlook.
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Chancellor Gerhard Schroeder's Cabinet approved budget guidelines for 2005 on Wednesday that would see Germany's deficit below the European Union limit for the first time in four years.
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Germany's state governments will this week ask parliament for the freedom to further extend shop-opening hours, long seen as one of the most visible symbols of the heavy regulation of the country's economy.
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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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Inflation in Germany, the eurozone's biggest economy, looked set to pick up this month as a result of a renewed surge in high oil prices, key regional data showed.
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Germany wants to lower targets laid out in the EU&#39;s Lisbon Agenda that aimed to provide Europe with the most competitive economy by 2010, governmental sources said here Wednesday.
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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 year.
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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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Germany's Cabinet on Wednesday approved a 2007 budget that foresees trimming the deficit to comply with European Union rules, and the finance minister said Berlin likely would hit the target this year.
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Germany's finance minister presented a 2005 budget Tuesday that boosts government spending and foresees record interest payments on the national debt, but still aims to get the country back under European Union deficit limits.
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BERLIN  - Germany experienced the strongest growth in four years in 2004, but weak consumer spending continued to hamper Europe's largest economy, the government statistics office said Thursday.
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Chancellor Angela Merkel's ruling  coalition plans to discuss raising the upper limit on the  number of troops Germany can send to Afghanistan under its  parliamentary mandate, a paper reported on Thursday.
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Germany's budget deficit for 2004 is expected to be far lower than forecast and fall below the record of 40 billion euros (52 billion dollars), a finance ministry spokesman revealed.
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German Chancellor Angela Merkel on Tuesday pledged to oppose a strict European Union limit on cars' average carbon dioxide emissions, arguing that different models should face different caps.Comment