European countries to be allowed more time for recovery
France, Spain, Poland, Portugal, the Netherlands and Slovenia are all being given more time to complete their austerity plans, reports BBC Russia.
France receives another two years to bring the budget deficit below 3% GDP. Commission president Jose Manuel Barroso said the extra time must be "used wisely" to lift competitiveness.
Spain, Poland and Slovenia will also get two more years to bring down their budget deficits though spending cuts and tax increases.
