Germany struggling with deficit promise

Germany is struggling to fulfil its promise to European leaders to reduce budget deficit in 2005 in order to meet the European Union stability pact rules, Hans Eichel the German finance minister has admitted.

It would be a "difficult task" for Berlin to keep the promise that Germany would comply in 2005 with the stability pact rules, Mr Eichel said according to the Financial Times.

Germany has broken the rules three years in a row, however it still escaped the sanctions last mont...