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EU ready to give France more time for deficit target

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(Globalpost/GlobalPost)

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.

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http://www.globalpost.com/dispatch/news/afp/130503/eu-ready-give-france-more-time-deficit-target