[HIGHLIGHTS] Livret A, life insurance, pensions... the sad passion of our leaders for “taxation of annuities”

The European Commission is set to release a report on how to reduce the deficit in the European Union's budget. The European Union has a budget deficit of more than $1.2 trillion.

The EU has a deficit of over $2.1 trillion. This is the highest level of debt in the history of the EU, and the largest in the world. The euro has been in a state of crisis since the financial crisis of 2008/09. The eurozone is in the midst of a debt crisis, which is expected to continue for years.