| Series Title | European Voice |
|---|---|
| Series Details | 10/10/96, Volume 2, Number 37 |
| Publication Date | 10/10/1996 |
| Content Type | News |
|
Date: 10/10/1996 ...for a monetary union next week (16 October). His proposal will go a long way towards accepting German calls for budget deficits to be kept below 3&percent; of gross domestic product at all times and transgressions punished with a non-interest-bearing deposit, which can later turn into a fine. However, De Silguy will not accept German calls to keep the deadline between identifying an excessive deficit and levying the deposit to six months, opting instead for nine months. He will also stick to his original suggestion that the deposit/fine should be capped at 0.5&percent; of GDP, rather than Bonn's proposal for unlimited fines. |
|
| Subject Categories | Economic and Financial Affairs, Politics and International Relations |
