French Prime Minister Manuel Valls said on Wednesday that France will take “all measures” to reduce its budget deficit below the 3 percent limit, but will be “extremely vigilant” not to destroy economic growth.
“We need a France that is strong, Europe needs a strong France that is competitive economically,” Valls said in a joint news conference with European Commission President Jean-Claude Juncker in Brussels. “France and the other member states also need a strong Europe,” he added.
The European Commission granted France two more years, until 2017, to bring its budget deficit below 3 percent of GDP. The target for 2015 is 4 percent, which would require further savings of 4 billion euros. Valls repeated that France would meet the target.