Friday, 5 February 2016

French Fin Min : EU Deal With UK Must Not Hamper Eurozone

In World Economy News 05/02/2016

French Finance Minister Michel Sapin said France would refuse a deal to keep the U.K. in the European Union if it prevented a strengthening of the eurozone. “In no case, in no way, should the measures on the table have the consequence of frustrating or slowing down the deepening of the eurozone,” Mr. Sapin said.
The French finance minister’s comments indicate that France is taking a tougher stance in talks with the U.K. after the EU proposed overhauls to meet British Prime Minister David Cameron’s demands to keep his country in Europe.
Mr. Sapin said that the deal on the table is not a basis for further negotiations, noting the proposals meet France’s current demands to not change European treaties or interfere with the eurozone.
Still, there may be a need to tweak some elements and clarify some points he said. “What’s on the table is not a simple read,” Mr. Sapin said.

Source: Dow Jones