Brussels – On Tuesday, the European Commission released its evaluation of member states’ budgets and expressed support for the French government, which is facing potential censure, by endorsing its austerity measures.
France is currently one of the poorest performing countries in Europe, with a public deficit that is expected to reach 6.2% of gross domestic product this year—ranking it among the worst in the EU, second only to Romania. This figure significantly exceeds the EU’s 3% limit.
In response to pressure from financial markets, Finance Minister Antoine Armand has announced plans for a “60 billion euro” effort next year, comprised of spending reductions and new taxes. However, these stringent measures may be difficult for the public to accept.
Marine Le Pen, leader of the National Rally deputies, has criticized specific proposals, including the planned increase in electricity taxes, arguing they will negatively impact household purchasing power. On Monday, she reiterated her threat to bring down the center-right government by joining the left in a motion of censure. (November 26, 2024)
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