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EU's Rehn says further French budget savings not needed
December 21, 2012 / 10:40 AM / 5 years ago

EU's Rehn says further French budget savings not needed

PARIS, Dec 21 (Reuters) - France does not seem to need further belt-tightening, as it has a credible budget, the European Union’s top economic official said in a newspaper interview published on Friday.

“Additional savings measures are not essential,” EU Economic and Monetary Affairs Commissioner Olli Rehn said in an interview in daily Le Monde. “Once you have a credible medium-term budget strategy, including on reforms, you can have a softer adjustment.”

Rehn also said France needed to carry out labour market reforms to tackle unemployment and that existing pension reforms should be extended.

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