No reason to again give #France more time to cut deficit – Rehn

There is no reason to further extend a European Union deadline for France to cut its budget deficit, the EU’s top economic official said on Saturday, adding policy-makers should have learnt the lessons of the debt crisis and stuck to agreed rules.

In June last year Paris got two more years, until 2015, to bring its budget shortfall below the EU ceiling of 3 percent of gross domestic product (GDP), from a 4 percent gap the European Commission expects it to have this year.

But after a government reshuffle this week, France said that while it agreed the deficit should fall, it wanted to discuss the deadline again as slower cuts would help the economy grow.

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