French Constitutional court clears fiscal pact

On 9 August 2012 the Constitutional Council in France ruled that the European Union's budget responsibility pact did not require constitutional changes. The Council decision made the path to French ratification of the accord easier.

The fiscal pact was signed in March 2012 and it committs governments to tight deficit limits. The pact must be ratified by 12 eurozone states before it can come into force in January 2013. Th aim of the fiscal pact is to reassure the financial markets which are deeply concerned about public debts.

• Primary Source

EUObserver, 9.8.12: French court to decide on EU fiscal treaty http://euobserver.com/economic/117195

ESO: Background information: Hollande seeks wider EU fiscal pact / Business backing for Sarkozy starts to cool http://www.europeansources.info/record/hollande-seeks-wider-eu-fiscal-pact-business-backing-for-sarkozy-starts-to-cool/

ESO: Background information: Concerns rise over eurozone fiscal treaty http://www.europeansources.info/record/concerns-rise-over-eurozone-fiscal-treaty/

ESO: Background information: Merkel under pressure at home on fiscal pact http://www.europeansources.info/record/merkel-under-pressure-at-home-on-fiscal-pact/

Le Monde, 17.9.12: Europe — taboo subject for François Hollande (via PressEurop) http://www.presseurop.eu/en/content/article/2708891-europe-taboo-subject-francois-hollande

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