EU to Propose End of German, Greek Budget Deficit Scrutiny, Drafts Say

(Bloomberg) -- Germany and Greece will escape the threat of European Union disciplinary action after faster economic growth helped them cut their budget deficits to below the EU limit, according to the draft text of the rulings.

The European Commission, the EU's Brussels-based executive agency, will call the deficit-cutting efforts of Germany and Greece ``credible and sustainable'' and recommend that the EU end the punitive deficit-surveillance programs, the draft rulings, which were obtained by Bloomberg News, say.


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