German Chancellor Angela Merkel’s government signaled a willingness to be less rigid in interpreting European budget-deficit rules, following calls from France and Italy for more flexibility.
President Francois Hollande dismissed suggestions that France should slow the pace of deficit reduction after the anti-euro National Front party placed first in elecitons for the European Parliament.
Germany and France are seeking to ease the euro area’s deficit rules to reflect efforts by governments to fix their economies, German Economy Minister Sigmar Gabriel said.
President Francois Hollande’s attempt to cut France’s budget deficit with tax increases may have boomeranged.
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