France and Germany clash over euro austerity pact
London Telegraph— It is “not for Germany to decide for the rest of Europe”, said Francois Hollande, the frontrunner to replace Nicolas Sarkozy as French president.
If elected, Mr Hollande says that he will not pass the fiscal austerity pact agreed by the leaders of 25 European nations, unless it contains measures to spur on growth.
His stance puts him on a collision course with Angela Merkel, the German Chancellor. She hit back at the French Socialist candidate’s plans, warning the deal is “not open to new negotiations”.
“The fiscal pact is negotiated, it was signed by 25 government leaders and has already been ratified by Portugal and Greece,” she told a German newspaper.
“Parliaments across Europe are on the verge of passing it. Ireland is having a referendum at the end of May.”