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Merkel and Hollande clash over EU Debt Crisis

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Angela Merkel (left) and Francois Hollande (right)

German Chancellor Angela Merkel and French Socialist Party presidential candidate Francois Hollande have had a war of words over how to handle the European debt crisis.

It is “not for Germany to decide for the rest of Europe”, Hollande, who is the favorite in France’s May 6 run-off election, said on Friday, The Daily Telegraph reported.

He went on to say that if elected, he would not approve the fiscal austerity pact agreed by the leaders of 25 European states unless it includes measures to stimulate growth.

Merkel hit back, saying France cannot rewrite the eurozone fiscal pact.

The deal is “not open to new negotiations,” She insisted.

“The fiscal pact is negotiated, it was signed by 25 government leaders and has already been ratified by Portugal and Greece,” Merkel stated.

“Parliaments across Europe are on the verge of passing it. Ireland is having a referendum at the end of May,” she added.

The issue of how to tackle the eurozone’s debt burden has led to the collapse of governments across Europe. On Friday, the Romanian government collapsed as it lost a no-confidence vote over state asset sales. Earlier this week, the Dutch government fell after failing to agree on spending cuts to comply with the new rules.


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