French lawmakers to vote on European fiscal treaty
PARIS -- French lawmakers voted overwhelmingly to ratify a European fiscal treaty that would impose harsher penalties for countries that overspend.
The treaty passed the National Assembly by 477-70 on Tuesday _ with expected opposition coming from some on the left, including in President Francois Hollande's Socialist Party. The Senate takes it up on Wednesday.
France hasn't balanced a budget in decades and has regularly flouted European requirements that deficits be less than 3 percent of GDP. In 2011, its deficit was 5.2 percent of GDP. It's not the only European country to have ignored those rules _ and the fiscal compact hopes to end those breaches, in part by penalizing countries in violation.
Unions on Tuesday were protesting the treaty and austerity measures imposed by the government.