European Union member had pledged to control the budget deficit to the required level in the EU before the end of 2013. But in view of the deficit reduction measures will obstacle to economic growth and European political dissatisfaction, officials may begin to discuss how to adjust the deficit reduction targets.
Oxford Economics, macroeconomic forecasts responsible person, Dillon said, for most of the large euro-zone member countries, is difficult to achieve the deficit ratio less than 3% of gross domestic product (GDP) by next year.
Some EU policy makers have recognized this problem, but they are worried about the adjustment of the deficit reduction target will shake confidence of financial markets to the EU to promote the deficit reduction plan. The majority of member governments, led by Germany may also object to make adjustments.
Oxford Economics, macroeconomic forecasts responsible person, Dillon said, for most of the large euro-zone member countries, is difficult to achieve the deficit ratio less than 3% of gross domestic product (GDP) by next year.
Some EU policy makers have recognized this problem, but they are worried about the adjustment of the deficit reduction target will shake confidence of financial markets to the EU to promote the deficit reduction plan. The majority of member governments, led by Germany may also object to make adjustments.
