Sarkozy says US jobs plan 'very pertinent'

9th September 2011, Comments 0 comments

French President Nicolas Sarkozy said Friday the stimulus plan announced by US President Barack Obama was pertinent, but indicated Europe was unlikely to follow such a policy.

The jobs plan revealed in a speech on Thursday by Obama "was very pertinent", Sarkozy said while on the sidelines of a ceremony at the US embassy in Paris marking the tenth anniversary of the September 11 attacks.

When asked if Europe needed a similar plan, Sarkozy said: "No. A recovery plan, we're not going to be asking Greece to do that."

Greece's European partners have been demanding Athens cut state spending and raise taxes to reduce its deficit and debt levels.

Obama's $447 billion jobs plan would cut taxes and boost spending on infrastructure in an effort to kick-start the stalled US economy.

Most European nations used stimulus spending to temper the effects of the recession that followed the 2008 financial crisis, but have now focused on cutting their deficits given their high debt loads.

© 2011 AFP

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