Euro Takes A Spill As French Presidential favourite Hollande Says France Won't Support The EU Fiscal Treaty


Photo: AP Images

The favourite in France’s presidential race says France won’t approve the fiscal treaty 25 of 27 EU leaders agreed upon in December, according to Bloomberg.That said, he says he will try to renegotiate the treaty.

Socialist presidential candidate Francois Hollande has long opposed the current terms of the treaty, vowing to renegotiate it.

However, the idea that France won’t sign the treaty unless Hollande gets what he wants—mainly adding a clause about growth to a fiscal compact regulating deficit and debt controls—is a new development.

Check out the steep drop in the value of the euro against the dollar following those statements:



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