Hollande proposes €120bn growth pact

EUObserver and EurActiv reported that emboldened by a Socialist victory in the French legislative elections on the 17 June 2012, President Francois Hollande wanted the European Union to agree before the end of 2012 on growth-boosting measures worth €120 billion, putting him on a collision course with German Chancellor Angela Merkel who had ruled out further spending to restart Europe's ailing economy.

• Primary Source

EurActiv, 18.6.12: Hollande floats €120bn 'European growth pact' http://www.euractiv.com/euro-finance/hollande-floats-120bn-european-g-news-513347

The Telegraph, 18.6.12: France’s Hollande seeks €120bn 'growth pact’ http://www.telegraph.co.uk/finance/financialcrisis/9337256/Frances-Hollande-seeks-120bn-growth-pact.html

ESO: Background information: Hollande secures parliamentary majority http://www.europeansources.info/record/hollande-secures-parliamentary-majority/

France 24, 18.6.12: Hollande to pursue ambitious European growth plan http://www.france24.com/en/20120618-france-francois-hollande-socialists-europe-growth-strategy

International Business Times, 16.6.12: France Wants EU Growth Package Worth €120B This Year http://www.ibtimes.com/articles/353013/20120616/france-eu-growth-package-120b-151b-g.htm

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