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Once again, France got several years extra for getting rid of its excessive deficit. Once again, Greece was held up to its reform promises and given not a respite. The Commission is applying double standards on the eurozone members. This will lead to huge damage of Europe’s trust and credibility.
On February 25, the Brussels press corps got an alert from the Commission’s spokesperson’s service. Within an hour, Vice-President Dombrovskis would make an ‘urgent’ statement. Twitter exploded: was France (finally) going to be fined for violating the Eurozone’s Stability and Growth Pact (SGP), with its budget deficit of more than 4 per cent?
On the contrary. Dombrovskis, responsible for policies regarding economically ailing member states, announced that ‘France be given until 2017 to correct its excessive deficit.’ Also no ‘excessive deficit procedure’ was to be triggered for Belgium, Italy and Finland, though these countries have been violating the rules of the eurozone. […]

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