France says deficit breach is looming

The French Government announced on the 6 November 2008 that the budget deficit will breach EU rules in 2009 by reaching 3.1% of output. French Finance Minister Christine Lagarde has also slashed 2009's growth forecast to 0.2-0.5% from 1% as expected earlier.

ESO: Background information: German cabinet backs fiscal stimulus plan http://www.europeansources.info/record/german-cabinet-backs-fiscal-stimulus-plan/

France24, 6.11.08: Paris expects lower growth and worse deficit http://www.france24.com/en/20081106-christine-lagarde-expects-lower-growth-worse-deficit-france-financial-crisis&navi=FRANCE

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