EU presses Sarkozy over economic policy
Thursday, 12 July 2007
BRUSSELS, July 11 (AFP): French President Nicolas Sarkozy came under EU pressure yesterday to keep reining in the French deficit after he warned more time might be needed to balance the books while Paris pushed through economic reforms.
EU Economic and Monetary Affairs Commissioner Joaquin Almunia, who polices public finances in the European Union, urged Sarkozy to give the economy a stiff dose of reforms and improve the country's finances at the same time.
Speaking a day after Sarkozy outlined his budget plans to finance ministers from the 13 nations sharing the euro, Almunia told journalists: "Budget consolidation and reform are not irreconciliable, they go hand in hand."
Almunia said the ministers told Sarkozy Monday when he attended their monthly meeting that "you cannot achieve growth unless you maintain budgetary discipline and rigour."
EU Economic and Monetary Affairs Commissioner Joaquin Almunia, who polices public finances in the European Union, urged Sarkozy to give the economy a stiff dose of reforms and improve the country's finances at the same time.
Speaking a day after Sarkozy outlined his budget plans to finance ministers from the 13 nations sharing the euro, Almunia told journalists: "Budget consolidation and reform are not irreconciliable, they go hand in hand."
Almunia said the ministers told Sarkozy Monday when he attended their monthly meeting that "you cannot achieve growth unless you maintain budgetary discipline and rigour."