France laid down the gauntlet to EU partners on Wednesday with a 2015 budget setting out how it would bring its borrowing back to within EU limits two years later than promised, a retreat it blamed on a fragile economy.
France laid down the gauntlet to EU partners on Wednesday with a 2015 budget setting out how it would bring its borrowing back to within EU limits two years later than promised, a retreat it blamed on a fragile economy.
Without specifically naming France, German Chancellor Angela Merkel quickly stressed that rebuilding sound public finances could not be taken lightly.
The announcement from Paris came hours after news that Italy too planned to ease the pace of painful deficit reduction to try to counter another year of recession.
"We have taken the decision to adapt the pace of deficit reduction to the economic situation of the country," French Finance Minister Michel Sapin told a news conference.
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