quinta-feira, 11 de setembro de 2014

Paris back to relegate the deficit reduction: the "French exception" becomes rule

The announcement was made by Finance Minister Michel Sapin:

"The consequence of this strategy is that with a fragile growth and inflation, the deficit reduction that predicted for 2015 will be limited, with a planned deficit at around 4.3% of GDP in 2015 and a passage under 3% in 2017".

Paris speaks of "exceptional conditions", as the last two times the déficie reduction goal was relegated to later, but Angela Merkel is keen to remember which is the way to go.

Proud to announce the balance of German public accounts already in 2015, the Chancellor said that in several countries, such as Spain, the reforms are having an impact and are to sustain the momentum. "We have to take seriously warnings from the European Commission that the slowdown of the reforms is the biggest risk to the economic recovery," he said.

Evaluate public accounts of each State is the European Commission's mission to deliver the task when Frenchman Pierre Moscovici, the new Commissioner of finance until recently Minister of Finance of the Government of François Hollande.

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