Posted Oct 8, 2014 by Martin Armstrong
Hollande is in deep trouble. His socialistic policies are destroying France. The European Commission in reviewing the budgets of the French Government find that they violate EU rules and no run the risk that they will be rejected by the EU. The Commission will ask the government in Paris in late October to submit a new budget plan for 2015. The EU Commission just may for the first time request changes to a draft national budget according to the surrender of France’s sovereignty to Brussels.
According to the plans of the French government debt will be 4.4% in 2015 and 4.3% of gross domestic product (GDP) this year. Also in 2016 the minus 3.8% are still be well above the EU ceiling of 3%.