Brussels, 28/10/2003 (Agence Europe) - The Italian EU presidency announced on Monday that following the recommendation adopted last week by the European Commission, the discussion on France's budget deficit will be on the agenda of the next meeting of Economy and Finance ministers of EU Member States in Brussels on 4 November.
Commissioner Pedro Solbes had indicated last week that the recommendation would be debated during one of the next two meetings of the Ecofin Council, on 4 or 25 November, stating his preference for the first date. In order to be brought into force, the recommendation must be backed by ministers from the twelve euro zone Member States, except France. For recall, the Commission suggested granting France a supplementary one year extension, authorising it to bring its deficits back within the limit of 3% of GDP by 2005. In return, France was invited to make a greater effort to reduce deficits in 2004.
Paris has not yet given any sign of wanting to conform to this requirement. “The European Commission's requirements in terms of spending” from France “is unrealisable” and would go “the opposite way from the policy wanted by the government”, the French Budget Minister Alain Lambert said in an interview with Saturday's Le Monde. Opting for a more flexible attitude, the Prime Minister, Jean-Pierre Raffarin, believed that France should reach a “good understanding” with the Commission “in a spirit of cooperation”.
Furthermore, in an interview with Berliner Zeitung, Commissioner Günter Verheugen gave a glimpse of the possibility of a reform of the Stability Pact to adapt better to the EU's economic needs. The spokesman for Pedro Solbes confirmed on Monday that a “project” is currently underway in the Commission, as was the case last year before the presentation in November 2002 of a communication on the strengthening of coordination of budgetary policies.