"France, but also Germany, have a special responsibility, as heavyweights in the eurozone, to...

|By:, SA News Editor

"France, but also Germany, have a special responsibility, as heavyweights in the eurozone, to take seriously the new deficit reduction rules," Bundesbank chief Jens Weidmann says, becoming the second official in a week to remind France of its obligation to cut its budget deficit to 3%, even if it takes a few extra years. There is a "certain amount of flexibility" in the rules, Weidmann continues, but their "credibility won't be enhanced if one were to exhaust [that] flexibility right at the start." Translation: Weidmann doesn't want anyone pushing their luck.