President Nicolas Sarkozy holds a meeting with Minister Christine Lagarde in order to draft a new plan to reduce the country's mounting deficit; the plan comes after Moody's Investors Services warned France that the country's debt rating might be subject to a downside revision.

Sarkozy plans to increase retirement age while promising to slash the deficit by 6.0 percent out output next year, followed by an additional 3.0 percent in the year 2013. These figures are compared with 2010 8.0 percent deficit.