3 October 2001, 17:38 EU's Solbes says growth of budget deficits reduces scope for ECB rate cuts
STRASBOURG, France (AFX) - EU economic and monetary affairs
commissioner Pedro Solbes said an increase in the budget deficits of
euro zone member countries will reduce the scope for the European
Central Bank to cut interest rates further.
Solbes delivered the warning during an address to the European
Parliament here.
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