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French Leader Warns on 2013 Deficit Target
Keywords:
France's president Hollande says in a televised town hall speech in Dijon, France, that the "deficit will probably be around 3.7%, even if we try to make it less." The austerity measures are hurting economic growth and France is likely to press for more time to met the EU's deficit target, similiar to the situation facing Spain and Portugal. Earlier France had committed to achieving the 3% target in 2013.
France's 2013 budget and the deficit
06/23/2010
The budget has higher taxes on business and the rich to meet deficit reduction goals just as the economy is stalling.
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Francois Hollande, Socialist party candidate for president in France, on the EU's handling of the debt crisis in Greece
06/30/2011
Francois Hollande says the EU mishandled the Greece crisis. Greece should have been handled as an extraordinary situation with earlier debt restructuring from public and private creditors to bring Greece's debt down to 60% of GDP. The current coordinated plan of the EU, ECB and the IMF only brings debt down to 120% of GDP in 2020. Hollande said he understands the need to reduce the budget deficit with cuts but without growth it can't work.
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The focus on competitiveness by economists, credit ratings agencies, and European leaders as austerity measures alone won't work
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Mario Monti focusses on the need for investing in the economy in an interview with German newspaper Die Welt during a January 2011 visit to Berlin. S&P economists and Nobel winner Stiglitz also emphasize this after a downgrade of France's credit rating- the need for improved competitiveness for the economies of France, Spain Portugal and Italy.
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France's president Hollande's revision of the 2012 budget
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France's Lagarde Forecasts Austerity
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France's Hollande Replaces Prime Minister Ayrault with Manuel Valls
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EU Won’t Reject French, Italian Budgets
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European Union Blinks in Budget Battle With Italy and France
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France's economy in 2010-2014
06/23/2010
The determination in France, as in Britain, to take austerity measures, and to cut the deficit.
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S.&P. Downgrade Deals Blow to French Government
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France's austerity plans and pension reform 2010-2014
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Hard times force French to work longer -- to age 62
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France's Lagarde Forecasts Austerity
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French Unions Protest Pension-Age Overhaul
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French Senate Passes Pension Bill
New York Times 10/22/2010
French Cabinet Is Dissolved, a Victim of Austerity Battles
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Sarkozy and Hollande economic policy measures and France's economy 2012-2014
04/17/2012
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German Optimism Depends On Spanish Deficits
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French Cabinet Is Dissolved, a Victim of Austerity Battles
New York Times 08/25/2014
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