EU Budget Commissioner Guether Oettinger said that French President Emmanuel Macron has “lost authority” by having a budget that exceed EU’s 3% limit. He referred to France announcement last week that the budget deficit could rise to 3.2% in 2019, instead of 2.8% as originally planned.
Though, Oettinger expressed his empathy that Macron was under political pressure from violent protests to ease the impact of fiscal reforms. He said an interview that “under this condition, we will tolerate a national budget deficit higher than three percent as a one-time exception.” However, he also emphasized “it must not continue beyond 2019.”
Oettinger said Macron “remains a strong supporter of the European Union”. And, “It crucial now that Macron continues his reform agenda, especially in the labor market, and that France remains on its growth track.”
