Associated Press

PARIS (AP) — French President-elect Francois Hollande is suggesting that outgoing leader Nicolas Sarkozy's government underestimated the country's budget problems.

The Socialist Hollande spoke after the European Union lowered its growth forecasts for France and the whole of the 17-country eurozone.

Hollande told reporters Friday, "I have known for several weeks that there was a greater degradation than the outgoing government said there was. We conclude that this is a confirmation."

Hollande, elected Sunday, says he wants an independent audit of the country's books.

He said the new figures do not necessarily mean he has less room to maneuver to fulfill his campaign pledges after he takes office Tuesday. "No, we had already expected this," he said in remarks shown on French television.