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Holland reiterates to re negotiate EU fiscal compact if elected

PARIS fake lv belts, April 25 (Xinhua) -- French Socialist presidential candidate Francois Hollande on Wednesday reiterated his determination to renegotiate a fiscal compact aimed to reduce debts across the continent and added a "growth pact" to the existing treaty, if elected.

"The day after the vote, if I receive a mandate, I will address a memorandum to the heads of state on renegotiating the compact," said the Socialist presidential hopeful less than 10 days ahead of a decisive runoff against incumbent president Nicolas Sarkozy.

Hollande's speech echoed the remarks made by European Central Bank (ECB) chief Mario Draghi who, earlier the same day, called for member countries of the European Union (EU) to mull over an euro "growth compact" to foster growth in the 27-nation bloc. He said the ECB was disappointed at the austerity measures designed to tackle the debt crisis, which seemed to be not functioning as expected.

Hollande said he agreed with the ECB chief that "the fiscal compact needs to go with a growth pact."

The Socialist candidate said his pro-growth proposals to amend the EU fiscal compact would include the creation of eurobonds to finance infrastructure projects, and a financial transaction tax.

As the election race pick up race, the role of the ECB has become a focal point in the campaigns of both Hollande and Sarkozy.

Last Friday Hollande pledged to re-orientate the ECB's role in the direction of supporting economic growth in the eurozone replica gucci sunglasses, including lowering interest rate and lending directly to eurozone member states, vowing to renegotiate the newly-inked fiscal compact already signed by 25 European countries to focus more on growth.

Sarkozy, meanwhile, also declared that he wanted the ECB to do more to promote economic growth.

The two presidential frontrunners are set to resume their duel on April 27 with a series of campaign rallies. A face-to-face television debate is scheduled for May 2.

Barry132 26.04.2012 0 117
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