Tax & Spend
France’s Macron Says EU’s Deficit Rules Are Obsolete
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The European Union’s fiscal rules are “obsolete” at a time when it needs to invest in defense and the digital transition, French President Emmanuel Macron said in an interview with the Financial Times.
Rules in the bloc stipulate that countries should not run deficits over 3% of their annual economic output. France has rarely been within that constraint and expects its budget gap rose to around 6% last year.