Belgian Finance Minister Reynders Says EU Must Take Steps to Cut Deficits

Belgian Finance MinisterDidier Reynders said European governments must take measures to reduce budget deficits in the wake of the recession.

“There’s a budgetary risk and we need to take some measures to go back to balanced budget,” Reynders said in a Bloomberg Television interview in Brussels today. He also said that authorities may need “to do more on the financial crisis, if possible go further in the adoption of new regulation.”

Asked about Belgium’s cost of borrowing, he said the country doesn’t “have any problem for the moment, but of course, with a very long political crisis,” it “may be a problem in the next months.”

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