Latest update: 06/11/2011 

- financial crisis - France - French economy - Nicolas Sarkozy


Budget for 2012 most rigorous since WWII, says PM

Budget for 2012 most rigorous since WWII, says PM

French Prime Minister François Fillon said Saturday that the 2012 budget would be "one of the most rigorous France has known since 1945," in a bid to keep France's excellent credit rating ahead of next year's presidential elections.

 

AP - Prime Minister Francois Fillon has warned the French that belts must tighten next year to reduce the debt.

He said Saturday that the 2012 budget “will be one of the most rigorous France has known since 1945,” the end of World War II.

Fillon spoke ahead of a meeting called by President Nicolas Sarkozy with a small group of ministers to plot measures aimed at filling public coffers with up to 8 billion EUR ($11 billion) more in funds. A plan could be announced Monday after a special Cabinet meeting.

Sarkozy, expected to seek a new mandate in next year’s presidential elections, wants to keep France’s excellent credit rating amid Europe’s debt crisis.

The summit he hosted of the Group of 20 failed to deliver funds to ease the panic before it closed Friday.

Date created : 06/11/2011 
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