EU imposes harsh austerity on Croatia, its newest member
European Union (EU) finance ministers have placed Croatia, which joined the bloc last July, in “excessive deficit procedure.” Acting on recommendations from the European Commission, the measure subjects countries with budget deficit in excess of 3 percent and debt of more than 60 percent of Gross Domestic Product (GDP) to direct economic control by the EU, and currently affects 16 other member states. ...
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