EU ready to give France more time for deficit target

The EU's Economic Affairs commissioner Olli Rehn on Friday said it would be "reasonable" to give France two extra years to meet the EU deficit target of 3 percent.

Rehn offered France extra time after the European Commission's spring forecasts painted a pessimistic picture of the French economy over the next two years, with its deficit notably rising sharply from 3.9 percent of GDP this year to 4.2 percent next year.