BRUSSELS (MNI) – European Union finance ministers Tuesday gave
Finland until 2011 to bring its budget deficit below 3% of its gross
domestic product, and they gave Cyprus until 2012 to do the same, EU
diplomats said.
The ministers adopted the decisions, which are based on
recommendations from the European Commission, at their regular meeting
here in Brussels.
EU rules require all of the bloc’s 27 member states to keep their
budget deficits below 3% of their gross domestic product.
Non-Eurozone members Bulgaria and Denmark were also given deadlines
— Bulgaria for 2011 and Denmark for 2013.
–Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
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