France's budgetary situation is 'very serious', new PM Barnier says
France has a "very serious" budgetary deficit, Prime Minister Michael Barnier said, weeks after France was placed on a formal procedure for violating European Union budgetary rules. Barnier, who was appointed to lead the French government on September 6 after months of political deadlock, has previously suggested tax rises to help stabilise finances.
Tomas Kauer - Moderator 
France has a "very serious" budgetary deficit, Prime Minister Michael Barnier said, weeks after France was placed on a formal procedure for violating European Union budgetary rules. Barnier, who was appointed to lead the French government on September 6 after months of political deadlock, has previously suggested tax rises to help stabilise finances.
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