Germany to meet deficit rule in 2007: Merkel
BERLIN - Designated German chancellor Angela Merkel vowed Thursday that Berlin would cut spending and meet the eurozone's budget deficit rule by 2007 under a grand coalition accord which will be presented on time next week. Germany is poised to violate the 3 per cent of GDP eurozone budget deficit rule for a fourth year in a row in 2005 and many analysts predict a further overshoot next year. "It is not just meeting the ... criteria - this is a question of justice for the future," said Merkel in a speech to business leaders adding: "For me it is a question of destiny."
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