Trichet says France wont balance budget by 2004

FRANCE - Jean-Claude Trichet, the governor of the Banque de France, suggested that it is unlikely that France will manage to clean up its budget deficit by 2004 when speaking on French television about the country's economy.

Remarking on finance minister Francis Mer's comments that to meet this pledge will take around three more years, Trichet said that "He has summarized things extremely well by saying that France shares the strategy of the Stability and Growth Pact and will respect its obje