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Europe Daily Bulletin No. 8321

18 October 2002
GENERAL NEWS / (eu) eu/emu
Germany under scrutiny for excessive deficit

Brussels, 17/10/2002 (Agence Europe) - Wednesday evening, Commissioner Pedro Solbes acknowledged that the European Commission would be forced to trigger a procedure against Germany should the country's public deficit exceed 3% of GDP in 2002. German Finance Minister Hans Eichel had just admitted for the first time that his country's public deficit may not remain under the 3% of GDP threshold set by the Stability and Growth Pact. "We shall naturally be confronted with a procedure for...

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