Eu Ecofın Councıl Meetıng Luxembourg

epa02191804 Greek Finance Minister George Papaconstantinou adresses the media during the Ecofin council meeting at Luxembourg EU Headquater , 08 June 2010 . Greece ' s revelation of its colossal -long-concealed - budget deficit in the autumn shook marketssent the euro tumbling . Budget deficits across the EU deepened massively last year as theeconomic 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