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Gold/Mining/Energy : Gold Price Monitor
GDXJ 108.90+4.2%Dec 9 4:00 PM EST

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To: IngotWeTrust who wrote (93503)2/11/2003 8:01:48 AM
From: long-gone  Read Replies (2) of 116805
 
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Associated Press
EU doesn't rule out loosening of budget rules in case of war
Tuesday February 11, 7:52 am ET

BRUSSELS, Belgium (AP) -- The European Union head office refused Tuesday to rule out a softening of EU budget rules if a war against Iraq leads to weakening of the economy.
"We'll cross that bridge when we come to it," said European Commission spokesman Jonathan Todd.

On Monday, German Chancellor Gerhard Schroeder hinted at easing budget targets in case of a war.

Under EU monetary union rules, the 12 EU nations that have the euro as their joint currency must keep budget deficits below 3 percent of gross domestic product and pursue balanced or surplus budget policies.

Schroeder said his government will limit investment cuts in case of a war so as not to weaken (cont)
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