ECOFIN: EU Almunia: EU Should Restore Budget Stability In 2010

Mon, Jun 8 2009, 19:28 GMT
http://www.djnewswires.com/eu


ECOFIN: EU Almunia: EU Should Restore Budget Stability In 2010 LUXEMBOURG -(Dow Jones)- European Union countries should start trimming their budget deficits next year, when the bloc's economy begins to recover, European Commissioner for Economic and Monetary Affairs Joaquin Almunia said Monday. E.U. countries are focused on an "exit strategy" for the EUR200 billion fiscal stimulus plan they enacted in December, Almunia told a news conference after a meeting of euro-zone finance ministers. The E.U. recently has deflected U.S. calls to expand its fiscal stimulus plan. By contrast, the U.S. earlier this year launched a $787 billion recovery plan, following a $168 billion package in 2008. "This stimulus has to be combined with a strategy which can maintain budgetary stability," Almunia said. -By Adam Cohen and Gabriele Parussini, Dow Jones Newswires; +322 741 1486; adam.cohen@dowjones.com

"This stimulus has to be combined with a strategy which can maintain budgetary stability," Almunia said. -By Adam Cohen and Gabriele Parussini, Dow Jones Newswires; +322 741 1486; adam.cohen@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=gEqvxRh7l2WIvWED5%2B70EQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 08, 2009 15:28 ET (19:28 GMT)
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