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Wed 10 Oct 2009EU members to start cutting crisis spending by 2011
EU MEMBER states have agreed to start cutting crisis spending by 2011 and shaving more than 0.5 per cent of GDP each year off their budgets to rein in ballooning public deficits.
At a meeting in Luxembourg yesterday, EU finance ministers said that as long as economic recovery is assured – based on European Commission projections – they can agree to a joint withdrawal of emergency measures.
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