BERLIN (AP) — The European Union will ease its focus on austerity as a way to solve its three-year debt crisis when it unveils country-specific economic policy recommendations Wednesday.
The EU Commission, the 27-nation bloc’s executive arm that oversees budget rules, is expected to grant France, Spain and others more time to slash their deficits. That means governments will be allowed to stretch out spending cuts over a longer time so as not to choke off growth as they try to fight record unemployment and recession.
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