French PM rushes out 50 billion euro budget savings plan

April 16, 2014 12:23 PM

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PARIS (Reuters) – France vowed on Wednesday to honour its Europeans commitments on deficit reduction and rushed out details of its grand plan to curb public spending by 50 billion euros (41 billion pounds) between 2015 and the end of President Francois Hollande’s term in 2017.

Prime Minister Manual Valls, named in a government reshuffle at the end of March after heavy town hall election losses for the ruling Socialists, outlined where the spending curbs would come and said a civil service wage freeze would remain.

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