It was a sacred cow, the holy grail. France's budget deficit would not, repeat not, exceed 3% of its GDP. It was etched in stone; the Socialist government had taken drastic measures to cut the deficit down to that magic number.
But the financial markets, the IMF, the EU, neighbouring countries and probably the average French person knew that this was mission impossible due to sluggish growth. This week, the government finally admitted the sad truth.
Read more: Economic crisis: can the Socialists stop the fire? - FRANCE 24
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