France scraps deficit target, as eurozone recovery halts

EUObserver and other news sources reported in August 2014 on the situation in the French economy, as Eurostat reported disappointing GDP figures for the eurozone economy for the 2nd Quarter 2014, and France's INSEE reported GDP figures for the same period for France.

For the second quarter in a row, France’s gross domestic product saw zero growth in the three months to July 2014, according to the figures from national statistics office INSEE.

EUObserver suggested that France had abandoned a target to shrink its budget deficit target in 2014 quoting comments from French Finance Minister Michel Sapin.

France encouraged the European Central Bank to do more to boost growth in the eurozone.

• Primary Source

Eurostat: Press Release: STAT/14/125: Flash estimate for the second quarter of 2014 GDP stable in the euro area and up by 0.2% in the EU28 +0.7% and +1.2% respectively compared with the second quarter of 2013 http://europa.eu/rapid/press-release_STAT-14-125_en.htm

BBC News, 14.08.14: German and French economies stumble in second quarter http://www.bbc.co.uk/news/business-28783850

France: INSEE: Topics: Economic outlook: Economic indicators: Quarterly national accounts: In Q2 2014, French GDP held steady http://www.insee.fr/en/themes/info-rapide.asp?id=26&date=20140814

France: INSEE: Topics: Economic analysis http://www.insee.fr/en/themes/theme.asp?theme=17

European Commission: Economic and Financial Affairs: EU economic situation: Economies of the Member States: France http://ec.europa.eu/economy_finance/eu/countries/france_en.htm

France24, 14.08.14: France to miss deficit target as economy hits standstill http://www.france24.com/en/20140814-france-miss-deficit-target-economy-hits-standstill-sapin-eu/

The Local.fr, 14.08.14: 'The whole eurozone is sick, not just France' http://www.thelocal.fr/20140814/france-eurozone-crisis-economy

The Local.fr, 14.08.14: 'Broken down' French economy grinds to a halt http://www.thelocal.fr/20140814/france-economy-growth-eurozone

The Guardian, 14.08.14: France calls on ECB to act as eurozone growth grinds to a halt http://www.theguardian.com/business/2014/aug/14/eurozone-growth-economy-germany-fall-france-stagnation-italy

Le Monde, 15.08.14: Nothing but empty promises from France (via Euro|Topics) http://www.eurotopics.net/en/home/presseschau/archiv/aehnliche/archiv_article/ARTICLE148667-Nothing-but-empty-promises-from-France

Courrier de l'Ouest, 16.08.14: France retreats into its shell (via Euro|Topics) http://www.eurotopics.net/en/home/presseschau/archiv/aehnliche/archiv_article/ARTICLE148750-France-retreats-into-its-shell

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