Independent auditors for the government called on France earlier this week to get its finances in order, saying the country is spending too much money
-- much of it on wasteful programs -- and not taking in enough money in taxes.
French Prime Minister Jean-Marc Ayrault late Tuesday acknowledged that France would miss ambitious budget targets intended to stabilize its economy and meet European requirements. France is the world's
fifth-largest economy and the second-largest in Europe after Germany.
"Growth in France, Europe and the world is weaker than expected," Ayrault said.