France will have to make "huge efforts" to meet its public finance goals but is committed to doing so to maintain its credibility, Finance Minister Pierre Moscovici said on Thursday.

"What people expect from us is credibility and that is what we will deliver," Moscovici said at an event hosted by think-tank Bruegel.

"That is why we must reach the budget deficit goals we have set. It is essential for our credibility," he said.

On the European Central Bank decision to launch a new bond-buying programme, he said: "I welcome the idea that member states must act in order to allow the ECB to carry out its responsibilities."

ECB President Mario Draghi said the bank would only help countries that signed up to and implemented strict policy conditions, and preferably with the International Monetary Fund involved in designing and monitoring the conditions.

(Reporting By Luke Baker; Writing by John O'Donnell; Editing by Pravin Char)