In a bid to promote economic growth, the EU Commission has decided to exclude infrastructure investment from deficit calculations for the next two years. But this measure will not apply to countries with excessive deficits, reports i.

The scheme, announced by Commission President José Manuel Barroso on July 3, not only excludes countries receiving bailouts (Portugal, Greece and Ireland) but also those whose deficit exceeds the EU norm of 3 per cent of the GDP, a group that includes and some of the eurozone's major economies, such as Spain, France and the Netherlands.

The daily writes that the goal of the measures is to stimulate economic growth and lower the record level of unemployment in Europe.