ALL BUT AUSTRIA AND PORTUGAL UPDATE STABILITY PLANS.

Almost all the EU's Member States have updated their economic convergence or stability plans and have now submitted them to the European Commission, sources close to the institution announced on December 21. The odd countries out are Austria and Portugal whose respective general elections have caused them to get behind schedule. The Commission services are to examine all the programmes sometime during the next quarter. Under the terms of the stability and growth pact, Euro zone countries (all EU States barring the United Kingdom, Denmark, Greece and Sweden) have to submit an updated stability programme every year and by March 31 at the latest. Non-EMU countries are required to...