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French President Francois Hollande is under pressure to deliver on promised budget cuts (Photo: consilium.europa.eu)

France plans budget cuts in 2014

France is to cut its budget next year for the first time in over five decades in a bid to meet an EU deadline on deficit reduction.

"This is the first time that we will propose such a reduction in parliament. It is a structural effort," French Prime Minister Jean-Marc Ayrault said Tuesday (25 June) when presenting a planned cut of €1.5 billion to the almost €400 billion to be spent next year by the government.

Ayrault said state spending has increased continuously since the beginn...

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French President Francois Hollande is under pressure to deliver on promised budget cuts (Photo: consilium.europa.eu)

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