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France targets welfare for big spending cuts

French Prime Minister Manuel Valls delivers a statement while Finance minister Michel Sapin, right, after the weekly cabinet meeting at the Elysee Palace in Paris, Wednesday, April 16, 2014. Valls provided details of the government's plan to reduce public spending by 50 billion euros ($ 69 billion) and reiterated that France would honor its European commitments on deficit reduction. (AP Photo/Philippe Wojazer, Pool)

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