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Burning a limit to the deficit in the marble of the law. The suggestion was made by Nicolas Sarkozy in 2007 during the presidential campaign. Then was taken in late 2009, a budget minister Eric Woerth, seduced by the German example. The topic should be discussed Thursday at the Elysee Palace during the conference on deficits. How, specifically, would this be possible?

The Germans themselves have already taken action. They have set a goal rigorous balance of public finances on an entire economic cycle and have entered into their constitution. Clearly, the German deficit will not exceed 0.35% of GDP in 2016.

Pass such a law in France could reassure the markets. They are concerned about the explosion of public debt. Rating agencies have already warned France that it would quickly present a plan resorption deficits.Otherwise, goodbye note prestigious Triple A allowing Paris to borrow very cheaply.

Eric Woerth, in his first statements, believed that coercion should be entered in a text of a range exceeding the classical law. The minister was thinking of an organic law? This type of text is in the legal hierarchy between the statute and the constitution. "I'm not sure that new legislation limiting deficits to this level would change the deal because all the existing provisions," argues Sophie Baziadoly, lecturer in public law at the University of Cergy-Pontoise.

Already copntraintes

Entering the euro zone, France has already pledged not to show a deficit above 3% of GDP bad credit payday loans . A rule regularly flouted.Nationally, the planning law, passed each year, limiting the increase in government spending to inflation. But this is not a legal rule, rather rule management. If it is not respected, there are no penalties.

The organic law will probably not solve these problems. "Like any law, it can be applied … or not, so it's purely symbolic," says Michel Bouvier, Professor at University Paris I Panth?on-Sorbonne and director of the Association for the International Foundation of Public Finance (Fondafip ). "The only serious solution is to fix the balance in the constitution." Follow the German example, in short.

But is it really desirable? This solution "removes responsibility policies and limits their freedom of action in the future," said Michel Bouvier. According to the university should instead strengthen fiscal transparency, streamline the budget.One area where France did not blush. For if it is bad in terms of student debt is one of the best in the world for the transparency of public finances, according to the International Budget Project. Still, this does not seem to be enough today to reassure the markets.

See also:

"The tax loopholes in the sights of Sarkozy

"The government is tackling the deficit reduction

"The French are concerned about debt

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