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.
- 1Half of Greek bailout money already ‘lost’, says top Belgian economist
- 2Balkans tension: 20 years after Dayton accords ethnic divisions still run deep
- 3Grexit could hit other eurozone countries
- 4Europe Weekly: Greece set for referendum on bailout terms
- 5Food from animal clones: what European citizens need to know
- 1EU chief Juncker pleads with Greeks to defy their government and vote for EU aid package
- 2Greece stands close to eurozone exit ahead of austerity referendum
- 3EU agrees ‘end’ to mobile roaming fees
- 4Grexit could hit other eurozone countries
- 5Half of Greek bailout money already ‘lost’, says top Belgian economist
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Greek debt crisis is “absolute supremacy of capital over humans”
- 3[Live updates] NGO flotilla bids to break Israeli blockade of Gaza
- 4Spain’s first case of diphtheria in 30 years: parents of six-year-old ‘oppose vaccines’
- 5[LIVE UPDATES] Greek debt deadline looms
- 6Large Hadron Collider ready to embark on an unprecedented voyage of discovery
- 7Istanbul Gay pride quashed by riot police, rubber bullets and water cannon
- 8[LIVE UPDATES] France: man decapitated, several wounded in chemical plant attack
- 9Israel prepares to repel boarders as ‘Freedom Flotilla 3’ tries to run Gaza blockade
- 10NewsWires : euronews : the latest international news as video on demand
- 11Greek debt summit – Live updates
- 12‘Distractingly sexy’ scientists hit back in lab chemistry polemic
- 13Summit up in Brussels as Greek proposals give food for thought and rumours fly
- 14Battle of Waterloo, live-tweeting 200 years on
- 15Greek PM faces day of crucial bailout talks in Brussels
- 16Citizens take power in Spain’s largest cities as a political revolution sweeps the country
- 17Italy discovers biggest illegal waste dump in Europe
- 18Greek banks, stock exchange will not open on Monday, Tsipras announces
- 19Greek debt: who will pay if Greece fails?
- 20Hungary: billboard war sparks international concern
Wires > European Affairs
- 04:40 CET Philippines confirms second MERS case
- 04:20 CET Heavy fighting as Iraqi forces try to surround Falluja
- 01:26 CET Pope comes ‘home’ to South America to defend planet and the poor
- 01:25 CET Two attacks in central Nigerian city of Jos – witnesses
- 23:03 CET Pope comes ‘home’ to South America to defend planet and the poor
- 20:38 CET Albanian police catch suspected killer of Czech tourists
- 18:13 CET Greek referendum final polls show ‘No’ vote ahead by small margin
- 18:06 CET Insight – Fears of Syria war persist in Lebanese border village