Eurogroup head lambasts French-German deficit reform

27th October 2010, Comments 0 comments

The leader of eurozone finance ministers Jean-Claude Juncker strongly attacked a French-German line on hardening controls on budget deficits as weak and "unacceptable" in an interview appearing on Thursday.

Juncker, prime minister and finance minister of Luxembourg, condemned the proposals agreed by France and Germany in light of the Greek debt crisis to tighten the Stability and Growth Pact, saying in effect that the proposals had no teeth.

"This agreement is unacceptable as it is because it guarantees no strict route for stability and no convincing stability pact," he said in remarks to Die Welt newspaper.

"In this context, I reject any change to the EU treaty," he added.

Juncker said he was consulted neither by Berlin nor by Paris on the issue before French President Nicolas Sarkoky and German Chancellor Angela Merkel reached agreement on the matter last week in Deauville (France).

© 2010 AFP

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