Against such a depressing background, Rehn chided France for the "persistent deterioration of French competitiveness" and called for "substantial structural reforms in the labor market."Instead of moving toward a safe 3 percent deficit, France is forecast to have a deficit of 3.9 percent this year and 4.2 percent next year. The French government said that new legislation is already in the pipeline to cut spending and increase the fight against fiscal fraud to bring its deficit down.
EU Predicts Eurozone Recession To Continue In 2013
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