The Tea Party terrorists in charge of both France and Italy are pushing Balanced Budget Amendments there. Agustino Fontevecchia of Forbes:
Italian Premier Silvio Berlusconi confirmed his nation would be moving toward a balanced-budget amendment on Friday, after rampant speculation that the European Central Bank would intervene in bond markets and purchase Italian and Spanish debt in exchange for structural reforms.
Helene Fouquet of Bloomberg:
French lawmakers endorsed a constitutional balanced-budget measure, mirroring German efforts to limit deficit spending and an effort to maintain its AAA rating. (snip)
French President Nicolas Sarkozy introduced the balanced- budget law as investors questioned France's ability to maintain its top credit rating amid the European debt crisis. The proposed "golden rule" will demand all future governments set out three-year plans to balance budgets.
"This is the tangible proof that France wants to restore public finances," Budget Minister Valerie Pecresse told I-Tele today