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International Business Times
International Business Times
World
AFP News

French Budgetary Situation 'Very Serious': Prime Minister

Michel Barnier Emmanuel Macron France European Union
The public finances are Barnier's prime concern (Credit: AFP)

France's budgetary situation is "very serious", Prime Minister Michel Barnier told AFP on Wednesday, saying more information was needed to gauge the "precise reality" of French public finances.

France was placed on a formal procedure for violating European Union budgetary rules before Barnier became head of government earlier this month, while the Bank of France warned this week that a projected return to EU deficit rules by 2027 was "not realistic".

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