11 February 2002, 12:10 Welteke says EU warning on Germany's deficit 'appropriate'
BERLIN (AFX) - Bundesbank president Ernst Welteke said an EU
warning on Germany's swelling deficit is "appropriate", he told
Handelsblatt newspaper on the sidelines of the G7 meeting in Ottawa.
"What the (European) Commission has done is appropriate," he was
quoted by Handelsblatt as saying.
"Germany right now is not complying with the EU Stability Pact," he
said.
He said the German government's deficit of 2.6 pct of GDP had
significantly higher new debts than planned.
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