The Les Echos newspaper reports that France’s government will raise its 2014 public deficit forecast to 3.8% of GDP from 3.6%. The 2015 forecast will also be hiked to 3.0% from 2.8%.
The Maastricht Treaty limits Eurozone deficits to 3% of GDP but it has been repeatedly, almost laughably, violated since the beginning. I doubt France will take any austerity measures to counteract the rising deficits.
