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Can Hollande Deliver on Growth as Deficit Target Looms?

Monday, 16 Jul 2012 | 3:45 AM ET

"It's fine for you to have a government which spends 56% of your GDP but that choice comes with the consequences of higher taxes, on employers and corporates and if you choose to go that way then it is very difficult to say that you are going to be friendly to these sectors in their time of need," Gustavo Baggatini, European economist at RBC Capital Markets, told CNBC.