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Hollande (r) has admitted defeat in his bid to cut its EU budget deficit targets on time (Photo: consilium.europa.eu)

France scraps deficit target, as eurozone recovery halts

France has all but abandoned a target to shrink its deficit, as the eurozone endured a turbulent day that raised the prospect of a triple-dip recession.

Figures published by Eurostat on Thursday (14 August) indicated that the eurozone economy flatlined between April and June, while the EU-28 saw 0.2 percent growth.

Latvia was the currency bloc’s strongest performer with 1 percent growth, and there was positive data from former crisis countries Spain and Portugal, which both expan...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Hollande (r) has admitted defeat in his bid to cut its EU budget deficit targets on time (Photo: consilium.europa.eu)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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