Sarkozy gives ministers debt deadline / Focus of eurozone crisis turns to France

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Series Details 11.8.11
Publication Date 11/08/2011
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French President Nicolas Sarkozy summoned members of his government back from holiday for an emergency meeting on the 10 August 2011 on the current financial turmoil.

The President gave his finance and budget ministers one week to come up with new measures to cut France’s crippling debt burden as concerns mounted over prospects for growth and the country’s ability to meet its deficit reduction targets.

He also urged all political parties to support a proposal limiting future budget deficits, which otherwise looked set to be defeated.

Related Links
Deutsche Welle, 10.8.11: France aims to reassure markets,,15306773,00.html
Deutsche Welle, 10.8.11: Market jitters force French president back to his desk,,6593263,00.html
EurActiv, 11.8.11: Sarkozy fails to reassure markets
France24, 11.8.11: Markets amok as Sword of Damocles hangs over France
EUObserver, 12.8.11: Sarkozy to announce fresh austerity as France sucked into whirlpool
The, 29.8.11: 'Golden' budget rule too complicated: economists
Spiegel Online International, 22.9.11: The Weakness Behind Sarkozy's European Vision,1518,787369,00.html
ESO: Background information: France’s triple A rating under spotlight
France24, 10.8.11: Sarkozy urges cross-party support for deficit plan

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