EU Revamp Keeping 3% Deficit Rule Wins Southern Europe Convert.

A reform proposal that would keep the European Union's deficit limit to 3% of gross domestic product is getting traction in one crisis-scarred corner of southern Europe, namely Cyprus. Read More: Lift Euro-Zone Debt Rule Limit to 100% of GDP, ESM Paper Says "What is important is to remain disciplined regarding the deficit criteria, and there the ESM hasn't suggested an increase in the 3% level", Cyprus Finance Minister Constantinos Petrides said. [Extracted from the article]