France to stick to deficit plan

Source: FT

France is to stick doggedly to plans to slash its deficit to 3 per cent of gross domestic product next year, its finance minister has insisted, despite increasing anxiety among the ruling Socialists about the more than €30bn of savings needed to hit the target.

Pierre Moscovici said the deficit target was not being imposed out of “love of a number” but because “debt reduction is imperative to conserving our sovereignty and staying master of our own destiny”.

Read more: http://liveweb.archive.org/http://www.ft.com/cms/s/0/5535b3e8-ea0b-11e1-ad39-00144feab49a.html