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.
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Russian rumour mill suggests Putin suffering poor health | euronews, world news
- 3Slovenia becomes 11th EU nation to approve gay marriage | euronews, world news
- 4[LIVE] Germanwings passenger jet crashes in southern France, 148 people on board – authorities | euronews, world news
- 5Indian rapist says women to blame for being sexually assaulted | euronews, world news
- 6Exclusive: CIA and Mossad are behind Boko Haram and ISIL, says Sudan president | euronews, world news
- 7International news | euronews, latest international news
- 8French Alps plane crash treated as suicide and mass murder by co-pilot | euronews, world news
- 9Why is Bulgaria the EU’s most unhappy country? | euronews, world news
- 10eurovibes - a selection of Europe’s best music talent
- 11Greece’s claim for war reparations from Germany explained | euronews, world news
- 12Reaching new heights: Parents in India scale walls to ‘help students cheat’ | euronews, world news
- 13Tens of thousands march in Moscow in memory of Boris Nemtsov | euronews, world news
- 14London calling: why home-loving Hungarians are flocking to British capital | euronews, reporter
- 15French prosecutor: Germanwings co-pilot appears to have crashed plane deliberately | euronews, world news
- 16Manufacturing jihad – Nicolas Hénin explains what he learned about ISIL | euronews, the global conversation
- 17Germanwings press conference mystery: what wasn’t he supposed to say? | euronews, world news
- 18Which EU country has the biggest gender pay gap? | euronews, world news
- 19Romania left red-faced after France-Germany map gaffe | euronews, world news
- 20International breaking news | euronews online world breaking news in video
Wires > European Affairs
- 11:45 CET Italy and Vatican sign deal to exchange financial, tax information
- 11:30 CET Iraq’s interior minister says most of Tikrit is liberated, fight…
- 11:20 CET Korean Air chief’s daughter seeks leniency in ‘nut rage’ appeal
- 11:12 CET Two armed people enter Turkish ruling party office in Istanbul -…
- 11:08 CET Rockslide at Myanmar jade mine kills nine, around 20 missing
- 10:07 CET South Korea charges attacker of U.S. envoy with attempted murder
- 09:40 CET Video shows last seconds of Germanwings flight before crash – Bild
- 09:11 CET Clean-up crew on hand to spruce up Japan’s ‘lonely death‘…