101.   The stability pact plan involves slapping fines of up to several billions of dollars if nations run up excessive budget deficits after the introduction of the euro.

102.   The territory is running a deficit this year because of tax breaks and increased spending on programs intended to lift the economy out of recession.

103.   European Union members using the euro that run excessive deficits after the shift to the single currency should pay heavy fines, the EU Commission proposed on Wednesday.

104.   They were to discuss proposed definitions of temporary and exceptional conditions which a country running excessive deficits could invoke to avoid payment of severe financial penalties.

105.   Under the stability pact, countries in the euro-zone which run budget deficits above three percent of their GDP will face stiff fines.

106.   Under the Maastricht Treaty, countries participating in monetary union must run a deficit below three percent of GDP.

107.   Under the terms of euro-zone membership, member countries are not allowed to run up deficits of more than three percent of GDP.

108.   Mexico has been running a deficit of eight percent of its GDP, he said.

109.   Opponents also argue that the option of running deficits is a necessary element of fiscal policy to stimulate the economy during recessions.

110.   Opponents argue that the option of running deficits is a necessary element of fiscal policy to stimulate the economy during recessions.