GLG News Analyses of the following article:
EU launches excessive debt action against nine nations
Published at: www.livemint.com
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November 15, 2009
The nine new Member States cited for excessive deficits bring the total to 20, three quarters of the entire EU membership. The EU Treaty requires the Commission to make these pronouncements, but this is only the start of a long process. Also, with the final decision on action, if any, up to the Member States, it is hard to believe a majority will be found to vote against themselves.
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