IMF enters debate on budget deficits in the eurozone

The International Monetary Fund warned Germany, France and Italy on 12 July 2002 to control their budget deficits or risk damaging the Stability and Growth Pact. In the interim findings of its annual 'Article 4' health check on the economy of the eurozone, the IMF urged the three countries to honour their promise to balance their budgets in 2004.

http://www.imf.org/external/np/ms/2002/071202.HTM http://www.imf.org/external/np/ms/2002/071202.HTM

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