Up To The Minute

Auditors to Hollande: Budget Cuts Can Not Wait

In a sobering audit report from accounting watchdog group Cour des Comptes released Monday, President Francois Hollande was given a stern warning: cut the state budget by $54 billion, or face failing to meet deficit targets. The French government must plug a hole of between €6 billion and €10 billion ($7.6 billion and $12.59 billion) in this year’s budget to meet deficit reduction targets, the audit says. Furthermore, projections for next year suggest budget reduction will be[Read More…]