A The European Commission will probably keep Paris under an excessive deficit procedure for the next two years, after last week placing France on the ‘black list’. The current French Economy and Finance Minister, Bruno Le Maire, had promised Brussels that he would achieve a budget deficit of 2.9% of Gross Domestic Product (GDP) in 2027, before the election results. Recent European elections have forced President Emmanuel Macron to call early legislative elections, the first round of which will take place this Sunday. With the post-election scenarios that are projected after the second round on July 7th, achieving that goal becomes increasingly distant.
