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EU begins budget discipline procedure against UK

Posted: Tuesday, July 8, 2008, 11:10 (BST)
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European Union finance ministers started disciplinary budget steps against Britain on Tuesday, saying its deficit was set to exceed the country's fiscal commitments.

"The decision on Britain has been adopted," a diplomat said.

All 27 EU members have agreed to keep budget deficits below 3 percent of gross domestic product, but the ministers said Britain's shortfall was expected to top the level in the fiscal years 2008-09 and 2009-10.



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