Sarkozy says French constitution should limit deficit

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French President Nicolas Sarkozy said Thursday that France's constitution should be altered to compel new governments to sign up to a timetable to balance their budgets.

"The restoration of public finances should not just be an undertaking of the government, but of the nation. It should be a long-term engagement and for that the governance of our public finances must change," Sarkozy said.

"That is why I want to start work on a constitutional amendment," he said, addressing a conference on deficit reduction at his offices in the Elysee Palace, according to a copy of his speech released by his office.

"This reform will make it an obligation of each government that is elected to publish a five year trajectory for the deficit. Each government will at the same time have to announce the date at which the budget will be balanced."

© 2010 AFP

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