PS: “inevitable” to abandon the target of 3% deficit in 2015 … – Le Parisien

PS: "inevitable" to abandon the target of 3% deficit in 2015 … – Le Parisien

<- Hard dé e: 0.011925935745239 sec -> Can we really imagine the Elysée and Matignon were not associated with the release of the boss of the PS. The first secretary of the Socialist Party, Jean-Christophe Cambadélis Justice “inevitable” to abandon the goal of a public deficit of 3% of GDP in 2015, in an interview with Les Echos published Thursday.

“These thresholds were fixed before the crisis.
                         
                 
                  <- hard dé e: 0.00034809112548828 sec -> And now there is a new situation. We are in a potential deflation. This must be taken into account, “he said in the interview posted Wednesday night on the newspaper’s website. Faced with a difficult budgetary situation, France could therefore not be able to meet its goal of a public deficit of 3% of GDP in 2015

In September 2013, Paris had obtained Brussels within two years to below the 3% target originally set for 2013, and promised to bring its public deficit to 3.6% of GDP at end-2014 and 2.8% in late 2015 This calendar Cambadélis judge now cmpte untenable given the deterioration of the economic situation.

The head of the Socialist Party then expressed the INSEE published on Wednesday the inflation figures. In July, consumer prices fell 0.3% leaving experts fear the risk of deflation Francois Hollande and Manuel Valls brandished as a threat to the country’s economic situation.

unsustainable growth objectives

To believe a series of indicators released Friday, the French economy down in the spring, has not gained momentum this summer, which promises a return to high risk in terms of budget as policy. According to the Bank of France, the immediate future looks difficult with growth of 0.2% of GDP for the period from July to September.

The Finance Minister Michel Sapin has already warned Friday that French growth, initially set at 1% should not exceed 0.5% of GDP in 2014 “If one is above 0.5% growth at the end of the year, it will be well “had then warned the minister then quoted by Le Canard Enchaîné.

The announcement of Jean-Christophe Cambadélis is therefore not a surprise. In fact, as foreshadowed Bercy Friday, the growth target of 1% set by the executive is not required, reducing the public deficit should not be respected.

The deficit cumulative state, which, with the local authorities and social systems made public deficit of France, shows mid-year no signs of decline, reaching EUR 59.4 billion is almost the same level as the end of June 2013.

Paris appeals to Berlin

“The evidence, when we see the situation of growth in Germany is that there is no cause for celebration. The Germans would be well justified in with us analyze the real situation in which we are, “said Jean-Christophe Cambadelis. Previously, Paris and Rome had already called for “more support” in Germany for European growth.

“Many countries are making efforts. But the spiral of austerity that led to the recession produces new effects, those of deflation. Our German friends should realize that their investment is more than light and their growth is very low. Under these conditions, they have to take measures, like us, to boost the euro zone, “and calls the boss of the PS.

This request, however, was swept with a wave of hand by the Germany, calling itself Paris to provide greater fiscal efforts to meet its commitments.

The president of the German central bank Bundesbank, Jens Weidmann, has called on Wednesday France to be “an example in budgetary matters “and to stop appeal especially to Germany to support its growth.

VIDEO. Brussels expresses his doubts about the objectives of France