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Macron pushes for costly economic reforms
Macron pushes for costly economic reforms

Budget problems disturb the European countries. The dispute between Rome and Brussels has not been resolved yet while the same situation seems to be evolving in France. Recently, Emmanuel Macron pledged to implement economic reforms but his efforts to achieve prosperity can cost as much as USD 10 billion. Such an expensive measure can lead to a gaping budget deficit.

Staying one step ahead, Macron asked the EU officials to make an exception for France and release it from any penalties for breaking the budget rules in the wake of exceptional circumstances, namely, the protests that have been raging throughout the country. In his turn, the French President promised to conduct economic reforms. Now, Macron is scheduled to have a meeting with the EU partners, so new promises can be made. If the EU policymakers don’t consider these circumstances to be exceptional, then Paris will be fined for violating the budget rules. In fact, Brussels faces a thorny dilemma. On the one hand, protests are indeed a justified reason to make an exception. On the other hand, other EU members may also express the desire to go on a spending spree if an exception is made. Italy will be the most eager one. In case Paris gets support, Rome can also ask for help, arguing that it needs to prevent disorders.

Published: 2018-12-20 20:42:25 UTC
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