France will not ratify the European Union's fiscal treaty unless it is updated to include some measures to boost growth, the country's new Finance Minister Pierre Moscovici reportedly said Thursday.
"The treaty won't be ratified as it stands," Moscovici said. "We have to complete it with an element on growth."
His comments echoed remarks by President Francois Hollande, who advocated incorporation of growth measures in the fiscal compact.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.