Eu Ecofın Councıl Meetıng Luxembourg

epa02191917 European Monetary Affairs Commissioner , Olli Rehn ( L ) Spanish Finance Minister Elena Salgado ( R ) arrive to a press meeting during the Ecofin council meeting at Luxembourg EU Headquater , 08 June 2010 . Budget deficits across the EU deepened massively last year as the economic crisis bitmember states scrambled to launch emergency spending . Despite sluggish growth , EU countries now want to slash their deficits - which often means less government spending to support economies - to restore their battered credibility .  EPA/NICOLAS BOUVY