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France reportedly plans to cut spending by €14B next year as part of an attempt to lower...

France reportedly plans to cut spending by €14B next year as part of an attempt to lower the public deficit to 3% of GDP by 2015. The government would reduce ministerial budgets, state aid to companies, and local-government funding. The speculation comes after the state auditor last week forecast that the government's 2013 public deficit will be near to 4% of GDP. It advised spending cuts of €13B next year and €15B in 2015 to hit the 3% target.
Comments (2)
  • Watch for pitchforks and barricades in the streets. The French have gotten too used to handouts to take this lying down with a bottle of wine and a block of smelly cheese.
    30 Jun 2013, 09:41 AM Reply Like
  • These cuts will never happen.
    30 Jun 2013, 09:51 AM Reply Like
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