Even as he unveiled billions in tax cuts to businesses and households for 2017, Finance Minister Michel Sapin reaffirmed France would meet its deficit target. Many French politicians, on the left and right, wonder aloud whether France should start ignoring the EU Commission and three-percent defenders, including powerhouse Germany, and break free. The EU has warned that France will not be allowed to exceed the three-percent deficit target again. This will not be extended again," EU Economic Affairs Commissioner Pierre Moscovici said in January. The European Commission can impose massive fines on countries that fail to take sufficient steps to bring down their public deficits.

Source: Bangkok Post September 11, 2016 05:15 UTC