BRUSSELS (MNI) – French President Nicolas Sarkozy said Monday that
the fiscal compact treaty will be signed by 25 European Union countries
after the Czech Republic joined the UK in opting out of it.
Sarkozy, speaking at the conclusion of the EU leaders’ summit here,
said that Czech Prime Minister Petr Necas had said he could not sign the
fiscal discipline pact for constitutional reasons.
The French president also said that the Greek debt talks were in a
“conclusive phase” and that he expected to see a definitive deal within
the next several delays. He said he would not comment on whether there
would be special summit to deal with the Greek question.
Sarkozy also rejected a German proposal that a special EU
commissioner be appointed to take control of Greek finances, saying that
economic reforms could only be made by the Greek government.
He emphasized that the idea to place Greece under the
administration of Brussels was not officially proposed by German
Chancellor Angela Merkel.
Sarkozy’s press conference came hours after the French Prime
Minister Francois Fillon officially lowered the government’s growth
forecast for 2012 to 0.5% from 1.0%.
The forecast was lowered to maintain the government’s credibility,
Sarkozy said, and he added that the slower growth would have no effect
on its ability to meet its budget deficit targets for the year.
“It doesn’t change anything in terms of respecting our
engagements,” Sarkozy said.
France is expected to cut its deficit to 4.5% of GDP this year from
around 5.4% in 2011.
–Paris newsroom, +331-4271-5540; jduffy@marketnews.com
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