Skip to comments.Hollande’s taxes blamed for France’s failure on Commission debt targets (EUSSR)
Posted on 06/02/2014 12:42:07 PM PDT by Olog-hai
France will miss its European Commission debt targets this year and in 2015 because of its excessive taxation of companies and high spending on healthcare and pensions, the EUs executive said today (2 June).
Under EU law, governments must not run budget deficits higher than 3% of economic output or gross domestic product (GDP). If they do, they fall under the excessive deficit procedure, which could lead to fines. [ ]
European Commissioner for Economic and Monetary Affairs and the Euro Olli Rehn blamed Frances expected failure on weaker growth forecasts for 2015 and the fact that some stability measures were were not specific enough at this stage. [ ]
Rehn also blamed President François Hollandes high taxation on business for preventing investment and ultimately growth and employment.
(Excerpt) Read more at euractiv.com ...
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Just taxing their way to prosperity.
Ironic that the EU suddenly does not approve.
That is where this country’s leaders want to take us
Imagine being too socialist for the EUSSR