Germany to cut public debt below 70 pct/GDP next year

April 10, 2015 2:48 PM

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BERLIN, April 10 (Reuters) - Germany is cutting its public debt faster than expected, with Berlin now aiming to reduce its debt to less than 70 percent of its economic output next year, according to an excerpt of a finance ministry document seen by Reuters on Friday.

Under European Union rules, set out in the 1992 Maastricht Treaty, euro zone states are supposed to keep the ratio of their debt to their gross domestic product to 60 percent or less. That rule has been broken for years.

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