If the economic recovery that is just underway is sufficiently strong, EU finance ministers have vowed to ut budget deficits beginning in 2011, according to a draft from the Eurogroup shows. They will base the budget cuts on an EC economic forecast report due on November 4 as the basis for the forecasts.
This is a modest EUR positive as the US is unlikely to trim deficits anytime soon as it is adding expensive programs that last in perpetuity in addition to stimulus spending…
