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France close to adopting EU fiscal pact

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France close to adopting EU fiscal pact

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France’s lower house has overwhelmingly approved ratification of the EU fiscal pact despite opposition from left-wing lawmakers.

The treaty, which should see European states keep to stricter budget requirements, will come into force on Janaury 1 2013.

The law passes to France’s upper house on Wednesday and should be adopted by the end of the week.