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Europe Daily Bulletin No. 8435

3 April 2003
GENERAL NEWS / (eu) eu/stability pact
Commission launches procedure for excessive deficit against France

Brussels, 02/04/2003 (Agence Europe) - As expected, on Wednesday, the Commission adopted a report on government finances in France as a first step of the Excessive Deficit Procedure included in the treaty. This initiative follows data for 2002 provided by Eurostat, showing that the general government deficit reached 3.1% of GDP in 2002, thus breaching the 3% of GDP reference value of the Treaty. The report assesses recent and current budgetary developments in France and reviews short-term...

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