Deficit too high for euro

29th January 2011

Poland's deficit level is causing concern

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There is growing concern from Brussels that Poland will be unable reduce its national deficit level below 3 percent of GDP - the rate currently required in order to adopt the single European currency.

In an attempt to underline the urgency of the situation, a letter has been sent by Oli Rehn, the EU’s economic affairs and currency commissioner, urging Poland to move on the issue.

“We are fully aware of the intention by the Polish authorities to introduce new measures in the very near future to address this shortcoming,” said EU spokesman Amadeu Altafaj Tardio. “And it is because of this, that Commissioner Rehn has written a memorandum inviting Poland to share with us, and be mo ...

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