Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

EU is closely monitoring France's new budget measures: Dombrovskis

Published 12/10/2018, 03:33 PM
© Reuters. European Commission Vice-President Valdis Dombrovskis attends a news conference in Brussels

STRASBOURG (Reuters) - The European Commission is monitoring the budget impact of possible new fiscal measures to be introduced by the French government, the vice president of the EU executive said on Monday.

"We are monitoring closely the potential new measures being announced, but we cannot comment before they are properly announced and detailed," Valdis Dombrovskis told EU lawmakers.

His remarks came as French President Emmanuel Macron pledged to cut taxes for pensioners and raise the minimum wage in January, after a wave of protests against him.

Dombrovskis said that under EU fiscal recommendations France was required to reduce its 2019 structural deficit, which excludes one-off measures, by 0.6 percent of gross domestic product. He added that the French government was committed to a 0.2 percent structural improvement.

Because of this partial compliance with EU recommendations, the French budget for next year had been already judged at risk of non-compliance by the EU Commission last month, before the planned additional expansionary measures.

Dombrovskis said the French case was different from Italy's. Rome is facing the risk of a disciplinary procedure for its excessive debt.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.