Arab Today, arab today france feels eu pressure to fix budget
Last Updated : GMT 02:21:42
Arab Today, arab today
Arab Today, arab today

France feels EU pressure to fix budget

Arab Today, arab today

Arab Today, arab today France feels EU pressure to fix budget

French President Francois Hollande
Luxembourg - AFP

France faced increasing pressure to modify its deficit-hit budget for 2015 on Monday, but Paris remained steadfast that it deserved "respect" and refused calls by Brussels to further rein back spending.  
The left-of-centre government of President Francois Hollande flew in the face of strict EU budget rules last month, announcing deficits this year and next sharply in excess of commitments made to the European Commission.
"Figures we are hearing from Paris are not very hopeful. There are certainly concerns there," said Jeroen Dijsselbloem, the Eurogroup President and Dutch Finance Minister at a meeting with eurozone finance ministers.
France, like all members of the 18-nation single currency zone, has until Wednesday to submit its 2015 national budget to the European Commission in Brussels, but it has already warned of problems.
France estimates that next year's budget deficit -- the shortfall between revenue and spending -- will hit 4.3 percent of annual economic output, well over 3.0-percent ceiling set by the EU for member states.
Paris also said it would only meet the EU target in 2017, the second time the Hollande government, which took office on a promise of balanced budgets, has put back the date by two years.
The Commission -- the powerful executive branch of the EU -- was in 2013 granted the power to send back national budgets for revision under new rules adopted to prevent a repeat of the eurozone debt crisis.
In Brussels, there have been widespread reports the Commission was preparing to force France to redo its spending plan, and even talk that Paris was in negotiations with European officials to avoid the embarrassment of a turned down budget.
But officials denied the reports and France said it will submit the problematic budget to EU officials unamended.
Publicly at least, the French government has hit back hard at pressure to do more to hit the EU targets.
"We decide the budget," Prime Minister Manuel Valls said on Saturday as he vigorously warned his European peers to "respect France, a big country."
Those words stung in Luxembourg on Monday, with smaller eurozone member states fearing a double standard between less powerful countries subject to Brussels severity and the big countries allowed "too big too fail" latitude.
"There can be no favouritism, the rules are the same for everyone," said Spanish Economy Minister Luis de Guindos.
Meanwhile, French Finance Minister Michel Sapin said that lawmakers in Paris still had a major say in the final make-up of France's 2015 budget, in a discreet signal that Brussels-friendly amendments could yet be made in parliament.
"Thankfully" there is still "plenty of room for positive discussion" in the French parliament where fluctuations to "the economic situation" could be taken into account, he said.
Debate over the 2015 budget begins Tuesday in French parliament and could run until December.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today france feels eu pressure to fix budget Arab Today, arab today france feels eu pressure to fix budget

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 01:04 2017 Tuesday ,28 February

Nokia 3310 is back — and so is 'Snake'

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday