Why France shows courage in diagnosing its economic ills

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Since 1999, France has a more impressive record on economic growth, productivity and financial sector stability than many eurozone peers.

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On page eight of a report that drips with disapproval for France’s modest economic reforms, the European Commission finds room for a killer footnote. reports The Financial Times. Between 1989 and 2013, the French budget deficit was above the ceiling set by the EU’s fiscal rule book — 3 per cent of gross domestic product — for 16 years, it observes.