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EU Pension Deal With Poland May Avert Fund Rollback

The European Union may be able to keep countries from following the example of Hungary, which is rolling back a pension overhaul, by agreeing to ease deficit rules for countries that set up private retirement plans.

Poland and the European Commission agreed on Dec. 10 that the burden of shifting payments to private funds will be “taken into account” when the EU evaluates deficits and debt, Deputy Finance Minister Ludwik Kotecki said. “Very good progress” was made in the phone call between Polish Prime Minister Donald Tusk and Commission President Jose Manuel Barroso, according to Barroso’s spokeswoman, Pia Ahrenkilde Hansen, who said the EU’s 27 member states must approve any deal.