France wants to change European deficit rules over the long term, and therefore not only in times of Covid.

She wants to put an end to the famous Maastricht rules and the 3% deficit for good.

Nicolas Barré takes stock of a current economic issue.

Are we going to put an end to the famous Maastricht rules and the 3% deficit?

This is France's new fight in Brussels.

These rules, you know, have been put on hold by the Covid crisis.

The European Union has very officially suspended what is called the Stability and Growth Pact.

It was in March.

All of Europe entered confinement, with the famous Maastricht rules.

This straitjacket having been broken, we could therefore open the floodgates and pour tens of billions of euros of public money to save the economy.

But the fiscal rules were supposed to be only "suspended", before the return to normal.

This suspension, Paris would like it to be permanent.

Paris, Rome and other capitals believe that these rules, which we already did not respect before the Covid, must be completely revised.

But there is a difference between thinking it and saying it.

Clément Beaune, the Secretary of State for European Affairs, a very close friend of Emmanuel Macron, therefore set foot in the dish yesterday by telling AFP that it was not imaginable to go back.

The subject is therefore openly on the table.

And once again, Europe is dividing.

Between those for whom the rule is the rule and those who want to change it because they know they will never respect it.

Take the case of France: this year, we will have a public deficit of 10.2%, next year of 6.7%.

We're not going to come back to 3% anytime soon.

As for our debt, it will approach 120% of the GDP, ie double the limit threshold which is therefore pulverized.

Changing these rules also means fundamentally changing the way Europe operates.

The Covid crisis has shown that what was unthinkable can happen.

It would never have been possible for Germany and the countries of the North to accept the principle of collective indebtedness to finance the recovery in the countries which need it most.

With the revision of the deficit rules, France, supported by other countries, wants to go a step further.

The logic is the same.

More financial solidarity between the countries of the continent.

More tolerance and understanding towards those who perform less.

Revising the rules also means withdrawing an argument from those who denounce the shackles of Brussels.

Is.

But that should not mean that we must abandon all budgetary discipline: this French temptation is certainly not an example to follow ...