Pierre Moscovici

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Students saying no  to austerity measures in front of the Cypriot parliament building in Nicosia earlier this week.   Photograph: Milos Bicanski

‘I believe we are at this moment sleeping on a volcano.” Alexis de Tocqueville’s speech to the French national assembly on January 29th, 1848, (...)

French president Francois Hollande’s government has  acknowledged it will overshoot this year’s target deficit of 3 per cent previously agreed with the European Commission. Photograph: Fred Dufour/Reuters

France missed its budget deficit target in 2012, as it will again this year, underlining the severe challenge facing President François Holland(...)

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