Germany works to reduce budget deficit

The German government forecast on Wednesday 3 December that its budget deficit will drop back to 2.5 percent in 2005. But it reaffirmed Eichel's position that Germany isn't prepared to implement extra spending cuts beyond those already planned as it tries to pull out of three years of economic stagnation.

Source: Associated Press

The German government on Wednesday underlined its commitment to getting the country's deficit back within a European Union-imposed limit in 2005, forecasting that the

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