French Socialist head calls for new economic model

2nd December 2008, Comments 0 comments

Tackling the global financial crisis requires a new economic model and not just a few meaures to regulate the financial markets, says the newly-elected Martine Aubry

2 December 2008

MADRID – The new leader of France's opposition Socialist Party, Martine Aubry, called Monday for the establishment of a new economic model in the wake of the global financial crisis.

"Liberal global governance and financial liberalism have suffered a social, moral and economic failure," she told a meeting of European socialists in Madrid.

European socialist and social democratic parties were due to adopt a "manifesto" for next year's European Parliament elections which she said "will propose a new model to liberalism where the economy has greater priority than finances".

"All the stakes in the next European elections will be to convince Europeans that also the hope of a new model," she added.

Aubry, who was elected the head of France's Socialists last week, urged European socialists to "talk of a new model in the face of liberalism" and "not content themselves with a few measures to regulate financial markets".

The daughter of former European Commission head Jacques Delors, she has vowed to keep the party "solidly anchored on the left".

A shift to the centre would alienate traditional voters at a time when the financial crisis has revived leftist state-driven economics, she said after she was elected.

Aubry is a traditional leftist who is best known as the woman who gave France the 35-hour working week when she served as labour minister.

[AFP / Expatica]

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