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EU leaders adopt new 10-year growth blueprint

06-18-2010 08:33 BJT

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European Union leaders agreed on Thursday to broaden guidelines for tougher budget rules and closer economic policy coordination. They're hoping to contain a potential euro zone debt crisis.

The EU leaders confirmed the headline targets regarding increasing employment, research and development, climate change, energy efficiency, education and poverty reduction.

EU member states will now implement the policy priorities and finalize their national targets.

They want countries that do not meet budget and debt targets to face tougher sanctions.

British Prime Minister David Cameron says he will not accept any sanctions for his country because it does not plan to join the euro.

David Cameron siad, "The eurozone has to sort out its problems and its issues. Our bottom line, our red line if you like, is that I do not support and will not support the transfer of powers from Westminster to Brussels. We're not in the euro and we're were not going to join the euro. But, if the eurozone countries need to do things to make more sense of their arrangements and strengthen their arrangements, then that may well be the case but that does not have to involve Britain giving up powers from Westminster to Brussels."

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