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EU report warns France

France's efforts to improve its competitiveness and reduce its public debt may not be effective and it needs to press ahead with further reforms, the European Commission said in a report yesterday.

The report reviewed progress made by Paris in tackling economic imbalances as part of a procedure designed to prevent problems in one EU country's economy from becoming an EU-wide crisis.

The Commission said last March that France's problems were weak external competitiveness and high public debt.