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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (31659)	6/7/2005 8:43:25 PM
From: regli	Respond to of 116555

>Why will Italy care any more that Germany or France do?< dw-world.de ... It said the excessive deficit, well beyond the limit of 3.0 percent of gross domestic product set out in the EU's Stability and Growth Pact which underpins the euro, could not be blamed on exceptional circumstances. "The excess of the deficit over the reference value is not exceptional, as defined by the Pact ... nor is it the result of a severe economic downturn," conditions which may have won Rome a reprieve, the commission said in a report. ... eubusiness.com