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Thursday, March 14, 2013

Germany sends message to EU with €5B cuts.

Germany intends to cut 2014 spending by €5B to €300B and balance its budget by 2015, a year ahead of schedule. Germany brought forward publication of its plans to before an EU summit today, when France and Italy may lead the charge for a relaxation of austerity. Germany wants to make the point that "consistent sustainable budgeting and growth are not mutually exclusive."

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