Won’t happen- unless and until the debt deals begin to unravel.
“Wont happen- unless and until the debt deals begin to unravel.”
But...Isn’t that precisely Hollande’s agenda?
The fiscal compact treaty requiring cutting deficits and debt was signed at the beginning of March by 25 EU states and has already been ratified by several.
Once sworn into office Hollande will meet with German Chancellor Angela Merkel, where they are expected to lay the groundwork for an informal summit of EU leaders on growth to be held at the end of the month or June, and a formal summit on June 28 and 29.
For Merkel, the main advocate of austerity in public finances, it is out of the question to reopen debate on the fiscal compact.
Will the new French president clash with the German leader?
During the campaign Hollande vowed repeatedly to “renegotiate” the fiscal compact or to “complete” it with measures to achieve economic growth, which would ease the task of cutting deficits.