EU’s getting a little too generous for its own good

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The European Union plans to examine ways to create an aid buffer for poor countries that are vulnerable to international financial and other shocks, the EU executive said on Monday. Many low-income countries depend economically on commodity exports, which are highly sensitive to factors such as financial market shocks, and to the weather. To help them survive such changes, a special EU fund could be ready for 2012-2013, the European Commission said. “The vulnerability of low-income countries to external shocks remains high,” the Commission said in a statement.