Buba warns 'substantial risk' of deficit breach

The Bundesbank warned on Monday 22 November that Germany risks breaking the EU's tight budget rules again next year, even if it insists it will be able to meet its deficit commitments in 2005. In its November monthly report the German central bank said there was a "substantial risk" of a breach of the 3% deficit limit in 2005.

The German public deficit breached a key EU limit of 3.0 percent of gross domestic product (GDP (news - web sites)) both in 2002 and 2003 and is expected to do so again

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