Brussels, 20/11/2002 (Agence Europe) - EU Finance Ministers are likely to examine the procedures launched by the Commission last Tuesday, against France and Germany together next January, according to Community sources (see EUROPE yesterday p 10). The same source added that Germany and Franc were likely to be treated together, that the Commission could begin proceedings based on its own calculations but Financial Ministers had to be patient. The source also indicated that, "The ECOFIN action has to be based on real data".
The Commission refused to comment on the latest data, which appeared to confirm slippage in public finance in France. According to the French authorities, the deficit could reach 2.8% this year (0.1% more that Commission estimates) as opposed to the initial estimate of 2.6%. Commissioner Pedro Solbes' spokesperson was only prepared to outlines that the Commission would be responding, "once we have received the draft budget itself and the stability programme". The Minister in charge of the budget in France, Alain Lambert, declared that the government would do all it could to reach the public deficit objective (State, Social Security, local authorities) of 2.6% for 2003.