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Hollande: Europe's identity at risk from recession | Hollande: Europe's identity at risk from recession |
(about 1 hour later) | |
French President Francois Hollande says recession is now "threatening the very identity of Europe". | French President Francois Hollande says recession is now "threatening the very identity of Europe". |
Speaking at a news conference in Paris, he said the financial crisis was now under control and "behind us" but "what is hitting Europe is a recession... provoked by the austerity policy". | Speaking at a news conference in Paris, he said the financial crisis was now under control and "behind us" but "what is hitting Europe is a recession... provoked by the austerity policy". |
Mr Hollande was speaking after figures showed France to be back in recession. | Mr Hollande was speaking after figures showed France to be back in recession. |
He said he would push for the creation of a eurozone economic government with a real president, to meet every month. | |
That government would aim to harmonise European taxes and mutualise sovereign debt, he said. | |
Germany has long insisted that the EU is not ready institutionally to mutualise debt - a move that experts say would require EU treaty change. | |
Germany and other richer eurozone countries are reluctant to provide more taxpayer-funded bailouts for weaker eurozone members, after the debacles in Greece, Cyprus and some other "periphery" countries. | |
"If Europe does not advance it will fall or even be wiped out from the world map," Mr Hollande said. | |
"My duty is to bring Europe out of its lethargy." | "My duty is to bring Europe out of its lethargy." |
Critics say Mr Hollande has been slow to tackle France's jobs crisis, and opinion polls suggest a big slump in his popularity a year after he took office. | Critics say Mr Hollande has been slow to tackle France's jobs crisis, and opinion polls suggest a big slump in his popularity a year after he took office. |
Mr Hollande said it was a "good signal" that the European Commission had "started to understand the risks and threats" of fiscal austerity. | Mr Hollande said it was a "good signal" that the European Commission had "started to understand the risks and threats" of fiscal austerity. |
He also urged the EU to bring forward planned spending to combat youth unemployment, which has reached record levels in Greece and Spain. |
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