http://www.forexyard.com/en/news/gives-Romania-until-end-2012-to-cut-budget- gap-2010-02-08T134159Z-EU EU gives Romania until end-2012 to cut budget gap Wednesday February 10, 2010 11:41:13 AM GMT EU-ROMANIA/DEFICIT
BRUSSELS, Feb 8 (Reuters) - The European Union executive proposed on Monday to extend by one year until 2012 the deadline Romania has to cut its budget deficit below the bloc's ceiling of 3 percent of gross domestic product. "Romania has made a serious effort to limit the deterioration of its budget deficit and to preserve macroeconomic stability during the past year," EU Monetary Affairs Commissioner Joaquin Almunia said in a statement. "The worsening of the economic situation since the initial recommendations were made justifies extending the deadline by one year. But the consolidation effort must continue," he added. (Reporting by Marcin Grajewski, editing by Dale Hudson) (c) Copyright Thomson Reuters 2010 ---------------------------- Vali "Noble blood is an accident of fortune; noble actions are the chief mark of greatness." "When the power of love overcomes the love of power, the world will know peace." Aboneaza-te la <mailto:[email protected]> ngo_list: o alternativa moderata (un pic) la [ngolist] Please consider the environment - do you really need to print this email?
