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Here go the fiscal rules

  • Bercy is confident that the French budget will not be rejected this month, hoping to buy some time for negotiations;
  • an EU official is quoted as saying whether the Commission rejects the budget or not depends crucially on the Franco-German deal;
  • nothing concrete about this deal emerged after the meeting of the Franco-German finance and economics ministers - details will be hammered out in a meeting on 1 December;
  • this is after the final deadline for the Commission’s budget verdict on Nov 30;
  • Wolfgang Munchau argues that economic policy co-ordination is a good idea in principle, but has not worked in practice;

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