European Economic and Monetary Affairs Commissioner Olli Rehn said on Saturday that There is no reason to further extend a European Union deadline for France to cut its budget deficit.
“If I refer to the Stability and Growth Pact (EU budget rules), a new extension could only be justified if there were unexpected adverse economic events with major unfavourable consequences for government finances”
“I don’t see that there have been such unexpected adverse economic events since last June. On the contrary, the euro zone economy has actually been experiencing a strengthening … recovery”
Rehn was speaking with Reuters
