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Top French economists call for EU’s 3% deficit rule to be dropped A trio of top French economists called for the European Union’s fiscal rules to be revised to focus on countries’ debt burdens, abandoning a much-violated rule on public deficits. A revision of the rules, widely seen as overly complex following previous revisions, had just got under way last year when they were suspended at the start of the pandemic to let countries mobilise their public finances for fighting the outbreak and supporting their economies through the crisis. Even before the crisis, the rules, called the Stability and Growth Pact, were frequently broken by member countries, including France, which for a decade flaunted the cornerstone rule requiring countries to keep their public budget deficits to less than 3% of gross domestic product.

France generalWilliam macleanXavier ragotLeigh thomasJean pisaniPhilippe martinCouncil of economic analysisEuropean unionGrowth pactJean pisani ferryEconomic analysisPresident emmanuel macronபிரான்ஸ் ஜநரல்வில்லியம் மக்லேந்லே தாமஸ்ஜீன் பிசானி