A Mike noted earlier, France missed their target of reigning their deficit to 4.1% for 2013 by coming in at 4.3% and the EU say it’s no great surprise. Like Portugal they have been given an extension to bring it down to target at 3.0% next year or face stiff penalties.
It means that the austerity broom still needs to used as weak economic growth continues.
Spain’s budget minister has also just been out on the wires saying that they can meet their 2014 target and that it’s “perfectly achievable”. They missed their 2013 target slightly coming in at 6.62% vs 6.5% set buy the EU.
“We can say that, in a very difficult year, we have met the target we had set,” said budget minister Cristobal Montoro.
Well it’s close enough I suppose
