FRANCE & GERMANY: FINE COUNTRIES WITH EXCESSIVE DEFICIT

France and Germany intend to launch hastier procedures to fine the EU Countries with excessive deficits. The news was revealed by French Finance Minister Christine Lagarde on the same day in which her German colleague Wolfang Schaeuble participated in a meeting of the French Cabinet. Lagarde also informed that the two Countries set forth joint proposals aimed at strengthening the Stability Pact. “We have just signed a joint letter – she explained – addressed to Hermann Van Rompuy (the President of the European Union, editor’s note) that includes joint proposals to improve governance and strengthen the Stability Pact”.