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German Cabinet Backs Balanced Budget

German Chancellor Angela Merkel's Cabinet agreed on Wednesday to stick to plans for a balanced budget over the next four years, a senior government official said, holding course despite the shock of Britain's vote to leave the European Union. The government hopes its plans for slowly raising state spending without taking on net new debt up to 2020 will send a message of "reliability and continuity" after Britain's decision to leave the 28-member bloc, officials have...

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