France has run high deficits for much of past 25 years
EU seen taking tougher stance with farright government
France seen moderating spending plans in EU talks

FRANKFURTPARIS, June 26 Reuters Because it39;s France was how JeanClaude Juncker, European Commission president at the time, explained Brussels39; decision in 2016 to give leeway to the large, founder member of the European Union on the bloc39;s budget rules.

That patience continued even as the EU endured a sovereign debt crisis that almost sunk the euro and forced smaller, more indebted nations such as Greece and Portugal to adopt swingeing austerity measures.

But any indulgence for French exceptionalism may come to an end if France39;s snap election produces a eurosceptic, farright government in Paris that could strain ties with other European capitals and test the very foundations of the euro project.

Marine Le Pen39;s National Rally RN insists it would not blow up the French budget. But questions persist about how it would fund costly spending plans within the eurozone39;s newly minted budget rules and whether the European Central Bank could step in to help if financial markets turn on France.

If a country can just ignore the rules and be helped by the central bank, you39;ll get a lot of doubts about the future value of the euro and the future cohesion of the euro, said Holger Schmieding, an economist at Berenberg.

Such concerns are not on the official agenda of Thursday39;s EU summit. But with the…