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3/15/12

France's Hollande gains EU allies for treaty rethink

France's Socialist presidential candidate Francois Hollande gained support on Thursday from left-wing parties in Germany and Spain for his call to modify a freshly signed fiscal pact with pro-growth amendments.

Hollande, the favorite to beat Sarkozy in a May 6 election run-off, has long advocated the need for adding clauses on economic growth and job creation to the pact on fiscal discipline, signed this month by the leaders of 25 member states.

As several countries in the bloc urge some tempering of German-influenced budget cuts with a more pro-growth and employment strategy, Hollande repeated his intention to renegotiate the treaty if elected.

"The fact that some have started to think about possibilities, renegotiations and annexes proves there is a growing awareness that this treaty is flawed," Hollande told journalists in Paris. "As far as I am concerned, I am for renegotiating the treaty from the start (of his term in power).

For more:France's Hollande gains EU allies for treaty rethink | Reuters

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