Germany 'at risk of breaching deficit limit'

GERMANY - The Bundesbank yesterday warned that Germany was at risk of breaching the European Union's 3 per cent deficit limit this year and cast doubt on its chances of balancing its budget by 2004.

The Financial Times reported on Tuesday that Hermann Remsperger, the German central bank's chief economist, said the deficit was already close to the permitted limit last year with 2.8 per cent of GDP. "The risk of exceeding this limit this year have grown."

He said it was also doubtful that Germany

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