France recommits to euro rules

Faced with the prospect of massive fines from the Commission the French Premier Jean-Pierre Raffarin said on Wednesday (27 August) that his country will try and abide by the rules governing the eurozone.

Mr Raffarin, who yesterday met Mr Prodi and the other Commissioners, said that Paris would try to bring its budget deficit below the 3% threshold but could not spell out in what year France will do so.

France faces fines of up to 0.5 per cent of GDP, around 7,6 bn euro, if it do...