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Under the current provisions of the European Stability and Growth Pact, member states are required to keep their budget deficits below 3% of Gross Domestic Product (GDP) and public debt levels below 60% of the total. GDP - threshold that many member countries have exceeded after years of heavy spending to offset successive overlapping crises. Vblink vblinks fishing district hunger games Mr. Kishore Mahbubani, a former Singapore diplomat and the author of "The Asian 21st Century," points out that discussions in the West often forget that the world's growth comes primarily from Asia.
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