EU Asks Croatia to Set Out Deficit Plan

BRUSSELS—European Union finance ministers agreed to place Croatia in its excessive deficit process Tuesday, requiring the EU’s newest member to set out how it will reduce its deficit to 3% of gross domestic product by 2016.
The European Commission had recommended the step last month. EU rules allow for stepped-up monitoring of countries whose deficit is in excess of 3% of GDP and whose debt amounts to more than 60% of national…

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