French PM warns of more cuts to contain 'spiralling' deficit

New government faces test to find extra savings deemed necessary by audit office, after the last administration overspent in its final months.

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France will take urgent steps to rein in a spiralling deficit, Prime Minister Édouard Philippe said on Thursday, warning voters they would have to tighten their belts in support of the next generation and the country's standing in Europe, reports The New York Times.