Socialist president must find up to €10bn in savings if eurozone’s second biggest economy is to meet deficit-reduction targets François Hollande, Europe’s chief critic of one-size-fits-all austerity measures, is facing the headache of inescapable belt-tightening at home after a national audit confirmed that France has a gaping hole in its budget and will struggle to meet its deficit-reduction targets. France must plug a gap of between €6bn and €10bn in this year’s budget to meet its promises to Brussels to reduce the deficit to 4.4% of economic output, state auditors warned.

Continued:
Europe