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French Finance Minister Bruno Le Maire said in a statement on Friday, the government is urging the European Union (EU) to suspend its strict budgetary rules for member states for 2020 and 2021 in the face of the coronavirus pandemic induced economic blow.

Key quotes

“Nothing would be worse than to relaunch the economy while putting the brakes on public spending.”

“That’s the mistake we made in 2009,” he added, referring to the aftermath of the 2008 financial crisis.”

“We hope that the stability pact rules will be suspended for 2020 and also for 2021.”