22 January 2003, 11:06  German government reprimanded by EU over budget deficit

EU finance ministers have launched punitive action against Germany for failing to meet EU policy guidelines on its budget deficit in 2002. The ministers meeting in Brussels were acting upon advice from the EU Commission. France has also received an official warning. The EU gave the German government until May 21 to present concrete steps to reduce its public spending or face a possible fine of between 8 and 10 billion Euros. German finance minister Hans Eichel said the EU reprimand was a signal to introduce country-wide structural reforms to save money. //www.dw-world.de

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