ECOFIN Presidency's Steinbrueck says economic climate 'very positive' in EU |
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Published
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Tue, 27 Feb 2007 16:04
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BRUSSELS (AFX) - German finance minister Peer Steinbrueck said the economic climate in the European Union (EU) is currently have ry positive'.Steinbrueck, whose country holds the rotating EU presidency, said the impact of Germany's rise in value-added tax from Jan 1 has been less severe than feared and 'will leave economic growth relatively unaffected'.Speaking to reporters after the monthly meeting of EU finance ministers, he called on member states to use the current upturn to improve their public finances.Ministers agreed that tax policy remains in the hands of individual governments, but that 'it is good to have a minimum degree of coordination in Europe'.EU economic and monetary affairs commissioner Joaquin Almunia said he is 'moderately happy' with the progress member states are making in cutting deficit and debt levels.Almunia too urged governments to do more to get their finances onto a sound footing in the face of the ageing population.victoria.main@afxnews.comvm/hjp/vm/amCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Macroeconomics highlights to 15:30 GMT 