ECB says new EU members deficit cutting 'too slow'

In a report published Wednesday the European Central Bank said countries including the Czech Republic and Hungary, which joined the European Union this year, have been "too slow" in reducing budget deficits and meet requirements to join the euro.

Click the links below to read (on the ECB's website):

Jean-Claude Trichet: Press briefing on the ECB Convergence Report

Otmar Issing: ECB Convergence Report 2004 Press Briefing Background Information

The Convergence Report 2004

``Progress with fiscal co