EU's Moscovici: France will be the only country with a deficit of over 3% next year

Adding to his earlier comments, European economic commissioner Pierre Moscovici was further noted saying that France will be the only country with a deficit of over 3% next year but won't be sanctioned over the budget deficit.

Key quotes:

   •  Rules allow for limit breaks if they are "limited, temporary and exceptional".
   •  French and Italian cases are not similar.
   •  Italy is launching a multi-year stimulus package.