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Macron's Concessions Set to Blow Out French Deficit

France will overshoot the European Union's budget deficit ceiling next year without deeper spending cuts after President Emmanuel Macron caved in to anti-government protests. Macron announced wage increases for the poorest workers and a tax cut for most pensioners on Monday in an effort to quell a near month-long public revolt. But the measures will leave a 10 billion euro ($11 billion) hole in the Treasury's finances, pushing France back over the EU deficit limit of 3 percent...

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