France 'not seeking new EU deficit target'

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French finance minister insists Paris is maintaining current deficit-reduction targets, while EC predicts it will miss them both this year and next.

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France is sticking to its current deficit reduction plans and is not seeking extra time to bring its finances in line with EU rules, finance minister Pierre Moscovici said on Tuesday, reports The Chicago Tribune.

France's EU partners have already granted it two extra years to cut its public deficit to a European limit of three percent of economic output, giving Paris until 2015.