Hollande warns France of tough spending cuts

Hollande warns France of tough spending cuts

Press quote (Financial Times)
30 September 2014
"I have never known Berlin more annoyed with France," says Charles Grant, director of the Centre for European Reform, a think-tank. "Seen from Berlin, Hollande has wasted two years achieving virtually no structural reform and failing to rein in spending."

...Mr Grant added that Berlin feared that Paris would simply take advantage of any German fiscal stimulus by easing up on reform. “Berlin worries more about France than Italy because Matteo Renzi has a mandate for reform. Also, France matters much more for the future of the euro than Italy,” he said.