French media, which obtained information about European Commission's growth projections for the EU, due out on Friday, said that France is expected to miss its 2013 deficit target and that growth will most probably be between 0-0.1%.
"Even though the European Commission believes that France is on the right track and acknowledges the positive effects of the structural reforms implemented so far, it will have some recommendations for the French President Francois Hollande on how to restore fiscal order. They will most probably concern salaries, social organizations and social security and will entail strict surveillance of the country."
Strong demand for Spanish debt seen at auction
Madrid saw borrowing costs fall at the debt auction held in the European morning.
"Spain sold 4.2 billion euros of 2, 6 and 10-year debt on Thursday, beating the maximum target of 4 billion euros."
