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Finance Minister Michel Sapin said Wednesday that France had “taken responsibility” in terms budget, and passed the buck to Europe, especially to Germany. “Europe must also take responsibility in all its components” face of faltering growth and the risk of deflation, launched the minister at a press conference. “The European Central Bank makes (things, Ed), she decided she uses, it has effects, “he said, asking:” What are we doing the budgetary point of view (….) Is? -this we continue exactly as before when he had to fight against public debt accumulated and the risk of collapse of the euro zone? Or should we act according to the current situation to find this essential growth? ” “These are the questions that are asked of each of our countries, to countries in surplus countries because they have had the courage or because previous governments had the courage to carry out necessary reforms,” he launched alluding to Germany. He said that France and deficit countries should continue to reduce their deficits, “but how fast?” Michel Sapin also discussed the investment desired by the new head of the European Commission Jean-Claude Juncker program. Paris will have to negotiate hard with the Commission and its partners after the publication of a draft budget for 2015, and trajectories for the following fiscal year that hurt all European promises of France, whether a public deficit to 3% of gross domestic product in 2015 (it will be in 2017) and a quasi-structural balance in 2017 (it will be in 2019.) Michel Sapin particular said the government ” immaculately kept spending, “but that deficits skidded due to the exceptional combination of low growth and low inflation. It now wants to discuss with the Commission on the definition of “structural” effort required of each country, that is to say, which, depending on Brussels, the only political goodwill.
Good political will
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