BRUSSELS : EC Into Action
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The European Community Commission--in effect, its Cabinet--is expected at a meeting in the Belgian capital on Wednesday to recommend aid for those Middle East countries suffering from the side effects of the U.N. trade embargo against Iraq.
The Commission is considering short-term loans of between $500 million and $1 billion, with particular focus on aiding Jordan and Egypt.
Foreign ministers of the 12 EC nations will consider the recommendation at an emergency session in Rome on Friday. EC finance ministers move into the Italian capital over the weekend, and the Persian Gulf crisis is now likely to dominate their talks, which were originally to focus on currency union.
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