France to slash budget

France has announced sharp cuts in its next budget, admitting it will not meet its European Union deficit target this year and that the economy will do worse than expected in 2014. Despite emerging from a shallow recession in the second quarter, France is struggling to get its tepid economy back on track amid record unemployment and low consumer spending.

France has announced sharp cuts in its next budget, admitting it will not meet its European Union deficit target this year and that the economy will do worse than expected in 2014. Despite emerging from a shallow recession in the second quarter, France is struggling to get its tepid economy back on track amid record unemployment and low consumer spending.

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