Germany braces for budget criticism

GERMANY - Germany is facing the threat of a formal reprimand from the European Commission for its growing budget deficit.

German finance minister Hans Eichel has admitted that Europe's biggest economy will this year exceed the 3% budget deficit allowed under the EU rules. And next week it will be formally warned by the European Commission to mend its ways or face economic sanctions, BBC news reported.

The news is ironic, given that Germany was the main architect of the Stability and Growth Pac