May 30, 2012 / 4:17 PM / 5 years ago

Moscovici says France will meet deficit goals

LUXEMBOURG, May 30 (Reuters) - French Finance Minister Pierre Moscovici said on Wednesday that France would stick to its 2012 and 2013 fiscal deficit targets, after the European Commission said spending cuts and tax reforms would be necessary to meet next year's goal.

Moscovici, who was in Luxembourg meeting Eurogroup President Jean-Claude Juncker, also said France was hopeful of progress on the idea of creating mutualised euro bonds and on moving towards an integrated bank sector for the single currency bloc.

"France will respect its public finance commitments," he told a news conference.

Asked about the possibility of German Finance Minister Wolfgang Schaeuble, a fiscal hawk, taking over as Eurogroup head, Moscovici echoed the new Socialist government's coolness on that idea, saying: "Jean-Claude Juncker is doing a good job heading the Eurogroup."

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