Press Release: France gets two more years to correct its government deficit

On 10 March 2015 the Council of the European Union granted France two extra years to bring its government deficit below 3% of GDP, the EU's reference value for deficits. It called on France to fully implement measures to correct the deficit by 2017.

The Council found that extending the deadline for correcting the deficit was justified by the fiscal effort made by France since 2013, and by the current weak economic conditions and other factors.

The decision was noted by commentators who queried if it showed that the larger Member States were treated more leniently than the smaller Member States such as Ireland.

ESO: Background information: European Semester 2015: College decisions http://www.europeansources.info/record/press-release-european-semester-2015-college-decisions/

ESO: Background information: Brussels demands more ambitious reforms from France http://www.europeansources.info/record/brussels-demands-more-ambitious-reforms-from-france/

European Commission: DG Communication: RAPID: MEMO/15/4587, 10.03.15: Commission welcomes Council discussion on European Semester reports and adoption of a recommendation to France http://europa.eu/rapid/press-release_MEMO-15-4587_en.htm

EUObserver, 10.03.15: France wins two-year reprieve on deficit https://euobserver.com/economic/127942

The Local.fr, 10.03.15: France wins approval for two-year deficit reprieve http://www.thelocal.fr/20150310/europe-approves-france-deficit-two-years

BBC News, 10.03.15: European Union grants France two year deficit extension http://www.bbc.co.uk/news/business-31815975

EurActiv, 11.03.15: France wins EU approval for two-year reprieve on deficit http://www.euractiv.com/sections/euro-finance/france-wins-eu-approval-two-year-reprieve-deficit-312799

EurActiv, 20.03.15: Valls opts for growth over deficit reduction http://www.euractiv.com/sections/euro-finance/valls-opts-growth-over-deficit-reduction-313063

---