24/07/2003 (Agence Europe) - In an article in Thursday's edition of the Italian newspaper La Republica, Commissioner Pedro Solbes describes the schedule of measures to be implemented if Germany and/or France fail to reduce their budget deficits to below the 3% level in 2004. He said that the Commission would have to issue a second recommendation, setting out measures to be taken to correct the excess deficits, noting that any decision to apply penalties would be not be taken until a later...