Sarkozy's first budget unveiled in 'bankrupt' France
President Nicolas Sarkozy's government on Wednesday unveiled a first budget since taking office that shied away from attacking France's huge deficit despite warnings that the state was bankrupt.Sarkozy has also brushed aside predictions that France will have to drastically rein in spending and argued that economic growth was key to filling state coffers. The budget is "to restore the value of hard work, create wealth and economic activity," Sarkozy told the cabinet meeting, according to the government spokesman.
France, the eurozone's second largest economy, has come under pressure from its European partners to rein in public spending and meet a 2010 target for a balanced budget.
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