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Juncker told journalists that the deadline, which was agreed under much rosier economic conditions in April last year, "should be revised" in light of the severe downturn that has taken hold in the eurozone.
"We have agreed between us that the decisions that we took in April 2007 ... should be revised and that the medium term objectives must be met by member states on a case-by-case basis at dates that will pushed back," Juncker said.