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France says respects budget rules, Germany says EU must decide
October 20, 2014 / 2:20 PM / 3 years ago

France says respects budget rules, Germany says EU must decide

BERLIN (Reuters) - France’s finance minister said after talks in Berlin on Monday that the European Union’s fiscal rules were indispensable for the credibility of the euro zone and Paris must reduce its excessive budget deficit by cutting spending.

However, Michel Sapin made no specific commitment to amend the 2015 budget which France sent to the European Commission for review last week to bring it into line with the deficit cutting rules, and German Finance Minister Wolfgang Schaeuble said it was up to Brussels to decide whether it was compliant.

The two countries also agreed to put forward proposals in early December on economic reforms and measures to promote investment to revive a stagnant euro zone economy.

Reporting by Noah Barkin; Writing by Paul Taylor

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