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French tax breaks must be financed with savings: ECB's Noyer

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(Globalpost/GlobalPost)

PARIS (Reuters) - France must finance the tax breaks it is offering to companies and households by government budget savings, European Central Bank governing council member Christian Noyer said on Tuesday.

"It is clearly vital that the reduction in charges is offset by savings on spending and not by other taxes," Noyer, who is also governor of the Bank of France, said on LCI television.

He also said the euro has been strengthening because confidence in the euro zone is returning. He said he saw no risk of deflation but that the ECB stood ready to do more on monetary policy if necessary.

(Reporting by Leigh Thomas; Editing by Andrew Callus)

http://www.globalpost.com/dispatch/news/thomson-reuters/140408/french-tax-breaks-must-be-financed-savings-ecbs-noyer