Escaping the French budget maze

For the second year in a row, France has failed to pass a budget before the end of December, as required by the constitution. At the time of writing, Prime Minister Sebastien Lecornu’s relentless efforts to find a compromise among the political parties willing to strike a deal seem likely to bear fruit, albeit at the expense of forsaking President Emmanuel Macron’s signature supply-side policy. The core problem stems from the fact that French public accounts are deep in the red, with a fiscal deficit exceeding 5 percent of gross domestic product.

Raccontata dalemonde.frarabnews.com