EU's Moscovici threatens sanctions against France over deficit goals

cep expert Kullas: Stability Pact is still not taken seriously by member states

France risks sanctions if it does not come to an agreement with the EU over its budget deficit goals, EU Economics Commissioner Pierre Moscovici told France 2 television. According to a report by German business daily Handelsblatt, France aims to bring its budget deficit below three per cent of GDP only by 2018. The French government had requested from the EU Commission an extension of time of three years for reaching the three per cent limit, Handelsblatt said. “The current deficit row with France shows that the Stability and Growth Pact is still not taken seriously by the member states,” cep expert Matthias Kullas argued. “It is hardly conceivable that the EU Commission makes a sanctions recommendation against a euro-state.”