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French budget deal leads to discontent in Brussels

Not punishing Paris for missing targets is a wrong signal to investors: officials

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POLITICAL CALCULATIONS: Mrs Merkel, seen with Mr Juncker, says France's budget deal made sense. But Berlin officials admit politics lie behind it and that embarrassing Mr Hollande would fuel anti-EU rivals such as the far-right National Front.

Brussels

FRANCE, Germany and the European Commission believe leaving Paris unpunished for persistently failing to curb its budget deficit was a wise compromise that bolsters the euro.

But it takes little effort to find EU officials who say it sends a signal to governments and...

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