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Pierre Moscovici: a country should be encouraged rather than sanctioned

EU gives France until 2017 to fix deficit

The European Commission on Wednesday (25 February) gave France another two years to bring its budget within EU rules - the third extension in a row - saying that sanctions represent a "failure".

France has until 2017, having already missed a 2015 deadline, to reduce its budget from the projected 4.1 percent of GDP this year to below 3 percent.

"Sanctions are always a failure," said economic affairs commissioner Pierre Moscovici adding that "if we can convince and encourage, it is ...

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Pierre Moscovici: a country should be encouraged rather than sanctioned

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