IMF's Deppler says France must clarify its fiscal policy, keep cutting deficit |
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Tue, 05 Jun 2007 10:42
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LUXEMBOURG (Thomson Financial) - IMF senior official Michael Deppler said France should spell out its fiscal intentions and continue its deficit-reduction programme.'The French policy remains to be clarified,' Deppler told reporters here. 'France must finish the work that has been initiated on the deficit,' he said.Deppler, who is head of the IMF's European department, said France must avoid past mistakes of failing to use economic recovery to put its public finances in order.The EU's stability and growth pact requires member states to cut deficits by 0.5 pct a year in structural terms, but new French budget minister Eric Woerth has previously called for a 'pause' in his country's deficit-trimming measures.After last night's gathering of euro zone finance ministers, euro group president Jean-Claude Juncker said he has no doubt that France will respect the EU's deficit rules.'Nothing (new French minister for economy, finance and work) Mr (Jean-Louis) Borloo said gave me any reason to think we need have any concerns,' Juncker said after the minister made his euro group debut.victoria.main@thomson.comafp/vm/vs/vm/bsdCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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IMF does not see strong euro as threat to economic recovery 