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Hollande got his way with the Juncker commission (Photo: Council of European Union)

France, Italy, Belgium to get extra three months on deficit and debt

The EU commission on Friday (28 November) is set to give France, Italy and Belgium three more months to implement deficit-and-debt cutting measures or face fines.

It is the first time the commission splits its verdict on national budgets into two parts: acknowledging that France, Italy and Belgium are in breach of the deficit-and-debt rules (Stability and Growth Pact), but delaying a decision on the consequences until March.

"We received letters at the highest level from three cou...

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