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Member states could now end up looking at each others' revenue and expenditure plans (Photo: ansik)

EU agrees controversial peer review of national budgets

EU finance ministers have reached broad agreement on a controversial plan to review each others' national budgets, together with earlier sanctions for member states that break the bloc's fiscal rules.

Also meeting in Luxembourg on Monday (7 June), an earlier gathering of euro area finance ministers approved the principle component of the zone's unprecedented €750 billion rescue mechanism.

Speaking to journalists after chairing his second taskforce meeting on economic governance w...

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Member states could now end up looking at each others' revenue and expenditure plans (Photo: ansik)

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