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Sarkozy ruffles eurozone feathers - EUobserver.com
French president Nicolas Sarkozy is to press ahead with the "fiscal shock" plans for his country despite strong reservations from several other eurozone countries.

In an unusual move, the energetic new leader invited himself to a meeting of euro finance ministers last night (9 July) to personally sell his plans for the French economy, amid mounting criticism over the past weeks.

The heated meeting, which saw Germany among the countries opposed to his tax-cutting measures, resulted in Mr Sarkozy presenting a softer line on his plans but not abandoning them.

At a press conference after the meeting, the French president called for an "intelligent and dynamic application" of the stability and growth pact, the rules underpinning the euro.

Referring to his plans to postpone balancing the country's books from 2010 to 2012 - he said he is not asking for the euro rules to be bent specifically for France.
by Fran on Wed Jul 11th, 2007 at 12:13:39 AM EST
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