Germany and France Scheming on Budget

Germany and France are secretly discussing a deal to enable the European Commission to approve Paris’s draft 2015 budget even though it breaks past deficit-cutting commitments, German weekly Der Spiegel said on Sunday.

The two governments are working on a written agreement under which France will provide the Commission with a detailed roadmap for deficit reduction and structural reform, the weekly reported, without naming its source.

In return, Germany would overlook France’s repeated flouting of its pledge to bring its budget deficit inside the euro zone’s 3 percent of national output ceiling and oppose any sanctions that the European Commission might propose.

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