France's 'socialist budget' puts markets into reverse
on 28/09/2012 17:41:44
It plans to save almost €40bn as it tries to reduce the deficit to 3% of GDP.
There will also be €20bn in extra taxes on the rich and businesses.
Meanwhile, European markets have gone into reverse gear after France's so-called 'socialist budget'.
Investors are also nervous about the results of an audit into Spain's banks, which was expected today but was not published before the markets closed.
The FTSE 100 closed down 37 points this evening.