Brussels, 11/01/2006 (Agence Europe) - On Wednesday, the Commission, as expected, referred the United Kingdom's excessive budget deficit (article 104§6) t the Council and recommended that British authorities be required to bring it back under 3% before the end of the current fiscal year. “While the deficit is close to the reference value, it does not result from a severe economic downturn or an unusual event, as defined by the Stability and Growth Pact, nor is the excess of a temporary...