France and Italy Must Seize Day to Fix Budgets, EU Watchdog Says
- European Fiscal Board issues public finance report in Brussels
- Indebted nations ‘must make an extra effort’ on deficits
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The European Union’s most indebted countries were urged by the bloc’s advisory watchdog to rein in spending largess and shrink deficits judged by officials to be far too expansive.
In a report Wednesday, the Brussels-based European Fiscal Board said the five nations in the region deemed as “high risk in the medium term” — Belgium, Greece, Spain, France and Italy — must try harder to repair their public finances.