Francis Mer: "We cannot add year after year a new deficit"

"First, our situation is not good: 3,8 percent in Germany, four percent in France for this year is not perfect. Second, I think at the same time we need to be convinced – not only the finance ministers, but also the administrations, that the long term interests of our countries must be not to increase our debt", said the French Finance Minister, Francis Mer, in an interview with DW-TV. He continued: "We cannot add year after year a new deficit of 15 billion euros per year. It’s a high figure. We cannot do that forever, for the next generations. It’s a question of responsibilities."

At the same time, added Francis Mer on TV of Deutsche Welle, "to create the conditions for not killing the minimum consumption and cap-ex growth – when the business climate is not good – just because we are devoted to restrain this deficit. So I’m fully convinced that this discipline is necessary provided that we do not forget the spirit of discipline, even if it leads to not strictly fulfilling that year after year."

4 September 2003
175/03

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