Brussels gives seven states more time to fix budgets

On 29 May 2013 seven EU countries are to be given extra time to bring down their budget deficits, after the European Commission took a lenient stance on austerity measures taken by governments to balance their books.

France, Spain, Poland and Slovenia have each been given an extra two years to bring their deficits below the 3 percent limit in the bloc's Stability and Growth Pact, while Belgium, Portugal and the Netherlands were given an extra year.

ESO: Background Information: Italy to leave EU 'crisis list' after cutting deficit http://www.europeansources.info/record/italy-to-leave-eu-crisis-list-after-cutting-deficit/

ESO: Background information: OECD cuts eurozone growth forecasts http://www.europeansources.info/record/oecd-cuts-eurozone-growth-forecasts/

ESO: Background information: European countries to be allowed to ease austerity http://www.europeansources.info/record/european-countries-to-be-allowed-to-ease-austerity/

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