EU to Slam France on Budget Deficit, Adding to Macron’s Woes
- Excessive deficit procedure comes as political risks mount
- Macron’s election rivals eye tougher relations with Brussels
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The European Union is set to admonish France for breaking the bloc’s deficit and debt rules, triggering a process that can lead to onerous fines and complicating campaign priorities less than two weeks before voting starts in legislative elections.
The EU rules include strict measures for nations with debt higher than 60% of gross domestic product and a budget deficit of more than 3%. France’s deficit was 5.5% last year, with debt at about 111% of GDP.