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Europe Daily Bulletin No. 8457

8 May 2003
GENERAL NEWS / (eu) eu/emu
Commission says France should take action before October to bring its public deficit back below the 3% GDP threshold by 2004 at the latest

Brussels, 07/05/2003 (Agence Europe) - On Wednesday the European Commission adopted an opinion concluding that an excessive deficit exists in France (forecast at 3.1% of GDP in 2002 and up to 3.7% in 2003) and recommending that the French government put an end to the present excessive deficit situation as rapidly as possible and by 2004 at the latest. The Commission's proposal will be examined by the ECOFIN Council in June, which has the power to decide on the measures Paris must take to...

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