Exclusive: Brussels summons France to explain why it will ignore budgetary targets

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In a letter addressed earlier this week to French finance minister Michel Sapin and to which Mediapart has gained access, the European Commission’s vice-president Jyrki Katainen, responsible for economic and monetary affairs, demands to know “why France plans to deviate from the budgetary targets” set by the European Council and “how France could ensure full compliance with its budgetary policy obligations”.  President François Hollande has refused to make public the letter, which he described as “of no great significance”, and which Mediapart exclusively publishes in full in this report by our Brussels correspondent Ludovic Lamant.

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European Commission (EC) vice-president Jyrki Katainen, responsible for economic and monetary affairs, has demanded that France explains its non-compliance with European Council budgetary targets, “regarding both the general government deficit and the adjustment in the structural balance in 2015”.