Merkel Tells Hollande: France Must Implement Reforms

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France has an obligation to press ahead with structural reforms now that the European Commission has granted it two extra years to reduce its budget deficit, German Chancellor Angela Merkel said on Thursday.

German Chancellor Angela Merkel

France has an obligation to press ahead with structural reforms now that the European Commission has granted it two extra years to reduce its budget deficit, German Chancellor Angela Merkel said on Thursday.

Speaking at a joint news conference with French President Francois Hollande after talks on reforming Europe, Merkel listed countries, including Spain and Greece, that have enacted tough structural reforms while slashing their budget deficits but did not include France.

"We agreed to give France two more years to cut its deficit to 3.0 percent (of gross domestic product)... and coupled with that is the expectation that reforms will be implemented. These go hand in hand," Merkel said.

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