| Author (Person) | Carnegy, Hugh |
|---|---|
| Series Title | Financial Times |
| Series Details | 1.12.11 |
| Publication Date | 01/12/2011 |
| Content Type | News |
|
Preview and reports of an important speech given by President of France, Nicolas Sarkozy, Toulon, 1 December 2011 on his vision of how to restore stability to the beleaguered single currency area. The French president has agreed to the need for much closer integration of fiscal policies, to tighter controls over national budgets, and to the principle of punishments for those countries that stray from the rules. But the French side is reluctant to embrace Germany’s determination to embed legally binding rules in EU treaties to give European institutions the power to enforce budgetary measures. Mr Sarkozy was aware of his domestic audience. He faced a tough presidential re-election battle in April 2012 when the outcome of the crisis and the issue of France’s place in Europe would be central. It was only five years since France voted No to the introduction of a European constitution. President Sarkozy said that Europe must be 'refounded' with France and Germany at its heart to ensure 'a zone of stability'. But he promised that France would not give up its sovereignty. 'It is not by going down the path of more supranationality that Europe will be relaunched', he said. |
|
| Related Links |
|
| Subject Categories | Economic and Financial Affairs, Politics and International Relations |
| Countries / Regions | Europe, France |
