PARIS (MNI) – The upper house of the French parliament, the Senate,
on Thursday ratified with an overwhelming majority of 306 to 32 a
package of bills allowing France to sign on to the EU Fiscal Compact
aimed at eliminating public deficits over the medium term.
After the approval Tuesday by the lower house, the National
Assembly, and its subsequent adoption of the overriding “organic” budget
law for balanced finances, the vote of the Senate clears a final hurdle
for France’s participation in the Compact.
As was the case in the National Assembly, the Socialist government
was unable to rally most of its Ecologist coalition partners nor the
Communists. The conservative UMP party broadly supported the treaty
initially signed by former President Nicolas Sarkozy.
–Paris newsroom +331 4271 5540; Email: ssandelius@marketnews.com.
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