France’s new finance minister has promised to stick to the EU’s tough budget targets – but without resorting to austerity.
In Brussels to meet the bloc’s economy chief Olli Rehn, Pierre Moscovici insisted Paris was committed, to a previously set goal, to rein in French public spending to within 3 percent by next year.
‘‘Olli Rehn was just saying that it was possible for us to reach our deficit target of 3 percent in 2013 and a balance by 2017. I told him that it wasn’t only possible, but that it would be achieved. Without austerity measures: yes, we’ll do it!’‘ French Finance Minister Pierre Moscovici said.
Surely such statements will be music to the ears of EU officials. However, some observers believe it is not Brussels but Berlin that the French finance minister must win over.
“If the French are going to get any concessions, Germany is going to have to accept handing over more money, or something similar. Right now, that looks unlikely. In fact, I don’t think that the French finance minister will achieve much here in Brussels. If he really wants something he should go to Berlin,’‘ said Daniel Gros, Director of the Centre of European Policy Studies.
France’s current budget deficit stands at around 4.5 percent for this year.
Recently elected French President Francois Hollande has called for more growth measures, rather than austerity on its own, to bring the EU’s debts under control.
Copyright © 2014 euronewsMore about:
- 1#ن: How an Arabic letter was reclaimed to support Iraq’s persecuted Christians | euronews, world news
- 2Ellen MacArthur: making waves on a journey to a circular economy | euronews, the global conversation
- 3China executes eight Muslims convicted of terrorism | euronews, world news
- 4Hoverbike on the horizon | euronews, hi-tech
- 5Putin T-Shirts flying off the shelves at Moscow megastore | euronews, world news
- 6Everything you need to know about the Ebola virus | euronews, world news
- 7Ukraine accuses Russian aid convoy of stealing factory equipment | euronews, world news
- 8Massive Swedish forest fire is declared a national emergency | euronews, world news
- 9Man, 27, fails in suicide bid after tigers reject chance to eat him | euronews, world news
- 10Risk of fresh ash cloud threatens European air travel | euronews, world news
- 11Iceland warns Europe’s airlines of possible volcanic eruption | euronews, world news
- 12Beyond the subconscious | euronews, futuris
- 13Canada sends hilarious barb to Russia over Ukraine ‘incursions’ | euronews, world news
- 14Bardarbunga volcano in Iceland continues to rumble | euronews, world news
- 15Poland wants compensation from the EU for Russian import ban | euronews, world news
- 16EU’s Russia sanctions doing more harm than good says Hungary’s PM Orban | euronews, world news
- 17Greek farmers suffer in economic war between Russia and EU | euronews, economy
- 18Turkey’s women have the last laugh | euronews, world news
- 19Hamas executes 18 suspected collaborators | euronews, world news
- 20Turkish ferry makes high-speed final landing | euronews, no comment
Wires > European Affairs
- 12:09 CET Ukrainian cargo plane with seven on board crashes in Algeria -…
- 11:35 CET Indian police charge ex-minister, Malaysian tycoon in telecoms…
- 11:20 CET Gunfire heard in Lesotho as army moves on police in apparent coup
- 11:18 CET Firefight erupts between militants and Philippine peacekeepers in…
- 10:11 CET U.S. authorities investigate suspected threat against Obama…
- 09:55 CET Saudi king warns of terrorism threat to U.S., Europe
- 09:52 CET Six killed in attack on Afghan intelligence agency
- 09:33 CET China tells journalists to learn “Marxist news values”