Brussels, 18/11/2004 (Agence Europe) - Hans Eichel declared in Berlin on Wednesday, in connection with the measures that still had to be approved by the Bundesrat, that he had a package to submit to Brussels, which respected European guidelines. According to Reuters, the German finance minister had informed the press that the medium term budget forecasts that he was going to send to the Commission in December would reveal a budget below 3%. On Thursday, after meeting with the finance ministers from the regional governments, he confirmed that they would reduce the deficit to 2.9% in 2005. If this proves to be the case, Germany will be able to avoid excessive deficit proceedings against it. On Tuesday after Ecofin discussions, Commissioner Almunia explained that following events in France and Germany, they would e assessing the economic situation and the 2005 budgets and if they conformed to the deficit rules and were below 3% they would have a positive decision. He underlined that if the contrary transpired, proceedings would be resumed.