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EU Reprimands France and six others over budget deficit The European Commission has recommended disciplinary action against France along with Belgium, Italy, Hungary, Malta, Slovakia and Poland, for running excessive budget deficits.The EU treaty requires member states to keep public debt below 60% and deficits below 3% of GDP. Plus, Nvidia has overtaken Microsoft to become the world's most valuable company, with 3.3 trillion dollars in market cap.