Britain and Ireland refuse to obey Brussels on spending
Daily Telegraph 2001-02-13

Under the terms of the EU Stability Pact, Britain must try to achieve a balanced budget in times of healthy growth, even though it is not yet a member of economic and monetary union. Ireland, which has signed up to the euro, faced the first ever formal censure by the EU against a member state. It was accused of violating the EU's Broad Economic Guidelines, which is intended to stop members of the euro zone damaging the currency by running inflationary spending policies.

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