France to miss 2015 deficit target, says finance minister

French Finance Minister Michel Sapin announced on the 10 September 2014 that France would need until 2017 to bring its public deficit down to 3% of output, breaking its commitmente to EU partners to reach that goal by 2015.

President François Hollande announced new measures on the 15 September, designed to boost investment in small businesses and revitalise the housing sector.

• Primary Source

ESO: Background information: Berlin-Paris tensions re-emerge as ECB ponders stimulus http://www.europeansources.info/record/berlin-paris-tensions-re-emerge-as-ecb-ponders-stimulus/

ESO: Background information: France’s Hollande orders cabinet reshuffle amid economy row http://www.europeansources.info/record/frances-hollande-orders-cabinet-reshuffle-amid-economy-row/

BBC News, 10.09.14: France to miss deficit target, lowers growth projections http://www.bbc.co.uk/news/business-29141416

Deutsche Welle, 10.09.14: France breaks deficit promise as Merkel sings praises of savings http://dw.de/p/1D9wH

The Guardian, 10.09.14: France to miss EU budget deficit target http://www.theguardian.com/business/2014/sep/10/france-miss-eu-budget-deficit-target

Euronews, 10.09.14: France fails to make promised EU debt reductions http://www.euronews.com/2014/09/10/france-fails-to-make-promised-eu-debt-reductions/

RFI, 10.09.14: France not to meet EU deficit rule until 2017, finance minister http://www.english.rfi.fr/economy/20140910-france-not-meet-eu-30-cent-deficit-rule-until-2017-finance-minister

Les Echos, 11.09.14: High deficit costs France its sovereignty (via Euro|Topics) http://www.eurotopics.net/en/home/presseschau/archiv/aehnliche/archiv_article/ARTICLE150180-High-deficit-costs-France-its-sovereignty

The Local.fr, 10.09.14: France to blow off EU debt limits until 2017 http://www.thelocal.fr/20140910/france-delay-deficit-limit-eu

EurActiv, 16.09.14: French government supports debt securitisation http://www.euractiv.com/sections/euro-finance/french-government-supports-debt-securitisation-308484

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