EU Criticizes France for Excessive Debt Amid Heated Election Campaign

The EU's executive branch rebukes France for excessive debt during an election campaign where President Macron faces challenges from the extreme right and left. The EU Commission recommends initiating an excessive deficit procedure for France and six other nations. The decision emphasizes adherence to deficit and debt criteria rather than country size.

The EU's executive branch has issued a stern rebuke to France for its rising debt levels, a move that comes at a pivotal moment in the French election campaign. President Emmanuel Macron is up against formidable opposition from both the extreme right and left.

The EU Commission has advised initiating an 'excessive deficit procedure' for France and six other member states. This marks the first step in a rigorous process aimed at enforcing fiscal discipline.

EU Commission Vice President Valdis Dombrovskis underscored that deficit criteria must be met irrespective of a country's size, highlighting that France's annual deficit soared to 5.5 percent last year. Despite economic challenges, the EU emphasized that excessive austerity is not the solution for the future.

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