President Nicolas Sarkozy’s main challenger in presidential elections next spring, Francois Hollande of the Socialist Party, declared that the accord is inadequate and that, if elected, he would renegotiate it “to put into it what is lacking today: efficiency with respect to the financial markets.”
“The treaty will not be ratified by France” if Hollande takes power in May, added Benoit Hamon, a key Hollande aide and the Socialist Party representative.
The stand is an embarrassment for Sarkozy, who initiated the pact along with Chancellor Angela Merkel of Germany. The two leaders, called it the last chance to save Europe’s common currency, the euro, amid growing pressure on European Union governments with unmanageable debts
The disagreements come as a rattling message for investors who have long trusted the European Union since the beginning of its inception. Economists say that if more countries such as France and England put more doubt on the euro zone union, investors will be unlikely to lend money to troubled European nations.
(아주경제 앤드류 이 기자)
reporter
Park Sae-jin
swatchsjp@ajunews.com