French audit office sounds warning on 2013 deficit

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French audit office sounds warning on 2013 deficit

Reuters – France’s new Socialist government must cut public sector jobs and force through eye-watering austerity measures next year to meet a key European deficit target, the national audit office said on Monday in an in-depth report on public finances. Economists have warned for months that faltering economic growth was gnawing a hole in state revenue, but President Francois Hollande kept the issue largely under wraps until he won presidential and parliamentary elections in May and June. Read article

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