Government Spending

French Parliament Approves Budget Restraints

Time to rein-in the spending spree


French lawmakers voted by a large majority Tuesday to adopt the European budget pact that attempts to rein in nations' public spending, a key piece of Europe's strategy to combat its stubborn debt crisis.

After a week of debate, the treaty was ratified by 477 members of the National Assembly, the lower house of Parliament, with 70 members voting against.