ECONOMY - FINANCE / (ae) france

Paris gets two more years to bring its deficit to 2.8% of GDP in 2017

Brussels, 10/03/2015 (Agence Europe) - On Tuesday 10 March, the European finance ministers gave France a grace period of two years (from 2015 to 2017) to bring its public deficit below the 3% of GDP mark.

The European Commission's recommendation, which was adopted by the Ecofin Council, calls on Paris to bring its public deficit down to 4% of GDP in 2015, 3.4% in 2016 and 2.8% in 2017, and to produce a structural budgetary effort (not including conjunctural effects) equivalent to 0.5% of...