The IMF are out with a report and they say that it will be remarkable if Francois Hollande achieves his spending cuts and he has no room to miss them.
They are upbeat on the direction of fiscal policy and acknowledge an improvement in French banks and their capital and liquidity positions.
They keep the forecast of French growth at 1.0% and 1.5% 2014/15
Hollande’s position hasn’t been helped today by the drop in growth.
