Romania to Win Reprieve From EU in Struggle to Contain Deficit
The European Union is likely to offer the Romanian government a reprieve to introduce measures aimed at paring its ballooning budget deficit before moving to potential punitive action against the Black Sea nation.
The European Commission will give Bucharest some time before moving to suspend EU funds as part of a report on Romania's progress under a so-called excessive-deficit procedure to be released Wednesday, according to people familiar with the deliberations who asked not to be identified as talks take place behind closed doors.
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