France warned by E.U. for 'excessive' deficit before elections

France faces E.U. reprimand for breaching financial rules ahead of crucial elections. President Macron's grip on power threatened as far-right and left-wing parties gain momentum. Macron seeks budget cuts while opposition vows to increase public spending. Potential 25 billion euros in cuts needed to stabilize finances. Political turmoil looms as parties clash over fiscal policies and E.U. intervention.