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ECOFIN: German Fin Min: Sees Budget Gap Below 3% Of GDP By '13BRUSSELS -(Dow Jones)- Germany's new Finance Minister Wolfgang Schaeuble said Tuesday his country is "emphatically committed" to European Union rules on fiscal discipline, and pledged to reduce his country's budget deficit to conform with them by 2013 at the latest. At a press conference after a regular meeting of EU finance ministers, Schaeuble said he "will do everything possible to avoid exceeding the July projections on borrowing" as he prepares a new draft budget for 2010. The previous draft, prepared by Schaeuble's predecessor Peer Steinbrueck, had projected a deficit of 6% of GDP. -By Geoffrey T. Smith, Dow Jones Newswires; (+49 160) 743 4090; geoffrey.smith@dowjones.com (END) Dow Jones Newswires 11-10-090856ET Copyright (c) 2009 Dow Jones & Company, Inc. |
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