In a Reuters news article they reiterate the EU Commissions statement that France will likely miss it's budget deficit target in 2015. Something they have to commit to as a member of the Euro but the UK does not.
So the article says...
But the Commission, the EU's executive, forecast that unless France goes even further it will end up with a deficit of 3.4 percent of GDP next year. If Paris fails to meet the 3 percent target without a good excuse, it could face fines.
Fines? Really? How will that help? But Anyway. In the next paragraph, they say:
France's refusal to accept disciplinary action for missing its budget deficit target in 2003 lead to a softening of budget rules, which was one of the causes of the sovereign debt crisis that afflicted the euro zone from 2009-2013.
Erm excuse me. So the commission can impose fines and France can refuse to accept them? So perhaps we should refuse some other things too, like the "transaction tax" for any member states dealings in London. Regardless of what the commission and the courts say.
Oh and their refusal to accept the fines was "accepted" and the rules were "changed" for the worse. Which then became one of the critical reasons ofor the sovereign debt crisis in the Euro Zone. Funny that, I always thought it was all us and the US.
Perhaps Farage should have a rant about this too.....
