Juncker: ‘The French spend too much money’
European Commission President Jean-Claude Juncker criticized France on Monday for being fiscally irresponsible, AFP reported.
“We have a real problem with France,” Juncker said in Berlin at the launch of a book by German Foreign Minister Sigmar Gabriel. “The French spend too much money and spend it on the wrong things.”
France is expected to have a budget deficit that surpasses the 3 percent of gross domestic product [GDP] limit that the EU sets for eurozone countries.
Juncker said between 53 and 57 percent of France’s GDP went on public spending.
“That can’t go well in the long run with relatively high debt,” Juncker warned, adding that “France is going to have to compromise with others.”
In his election manifesto, French President-elect Emmanuel Macron promised to stick to the 3 percent target by cutting up to 120,000 public sector jobs worth €60 billion over the next five years.