19/06/2009 (Agence Europe) - The European Council backs the efforts made by Latvia to reduce the country's deficit in 2009 and 2010. While the deficit threatens to exceed 11% of GDP this year, budgetary cuts (some €700 million) have been approved by the Latvian parliament in order to bring it towards a level closer to 5% of GDP, as foreseen within the framework of the international support plan approved end 2008. The European Council supports the Commission's intention to propose rapid...