Financial Times FT.com

French parliamentary elections

Paris pressed on budget promise

By George Parker in Brussels

Published: June 13 2007 20:05 | Last updated: June 13 2007 20:05

France was urged on Wednesday to stick to its promise to balance its books by 2010 amid growing fears in Brussels that Europe is failing to use the economic recovery to restore order to its public finances.

Joaquín Almunia, EU monetary affairs commissioner, said many member states were not using booming tax revenues to eliminate their deficits and some were using the cash for pro-cyclical spending.

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