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EC warns France on deficit rules

brussels bureau

EC warns France on deficit rules


The European Commission has warned France that it must do more to reform its economy and cut spending.

It said there was “insufficient detail” as to how Paris would slash its budget deficit to an EU-mandated target of 3 percent of GDP.

“The French economy, and other economies, need to continue along the path of reform and that, of course, will be done in a collective manner with the other member states,” said Jose Manuel Barroso, president of the European Commission.

The report comes after Marine Le Pen’s Front National finished top in France’s European election vote.

She believes that Brussels has too much control over France’s budgetary affairs.

“In terms of public finances, we see a consolidation and the attempt to bring down the deficit by cutting spending. I think that’s the right way, France must in fact spend less, France has to make reforms in the public sector,” said Guntram Wolff, director of the Bruegel think-tank.

EU leaders overhauled the bloc’s budget rules in 2011 in response to the eurozone crisis.

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