December 12, 2018 / 10:41 AM / 2 years ago

EU's Moscovici says French, Italian budget situations not comparable

European Commissioner for Economic and Financial Affairs Pierre Moscovici presents the EU executive's autumn economic forecasts during a news conference at the EU Commission headquarters in Brussels, Belgium November 8, 2018. REUTERS/Francois Lenoir

FRANKFURT (Reuters) - Italy has violated European Union budget criteria for years, European Economic Commissioner Pierre Moscovici said on Wednesday, adding that the French and Italian budget situations were not comparable.

France will overshoot the EU’s budget deficit ceiling next year without deeper spending cuts after President Emmanuel Macron caved in to anti-government protests.

Reporting by Hans Seidenstuecker; Writing by Paul Carrel; Editing by Michelle Martin

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