Sarkozy gives ministers debt deadline / Focus of eurozone crisis turns to France

French President Nicolas Sarkozy summoned members of his government back from holiday for an emergency meeting on the 10 August 2011 on the current financial turmoil.

The President gave his finance and budget ministers one week to come up with new measures to cut France’s crippling debt burden as concerns mounted over prospects for growth and the country’s ability to meet its deficit reduction targets.

He also urged all political parties to support a proposal limiting future budget deficits, which otherwise looked set to be defeated.

Deutsche Welle, 10.8.11: France aims to reassure markets http://www.dw-world.de/dw/article/0,,15306773,00.html

Deutsche Welle, 10.8.11: Market jitters force French president back to his desk http://www.dw-world.de/dw/article/0,,6593263,00.html

EurActiv, 11.8.11: Sarkozy fails to reassure markets http://www.euractiv.com/en/euro-finance/sarkozy-fails-reassure-markets-news-506966

France24, 11.8.11: Markets amok as Sword of Damocles hangs over France http://www.france24.com/en/20110811-markets-france-banks-shares-debt-crisis-italy-greece-economy-finance

EUObserver, 12.8.11: Sarkozy to announce fresh austerity as France sucked into whirlpool http://euobserver.com/19/113289

The Local.fr, 29.8.11: 'Golden' budget rule too complicated: economists http://www.thelocal.fr/988/20110829/

Spiegel Online International, 22.9.11: The Weakness Behind Sarkozy's European Vision http://www.spiegel.de/international/europe/0,1518,787369,00.html

ESO: Background information: France’s triple A rating under spotlight http://www.europeansources.info/record/frances-triple-a-rating-under-spotlight/

France24, 10.8.11: Sarkozy urges cross-party support for deficit plan http://www.france24.com/en/20110810-nicolas-sarkozy-deficit-law-france-debt-deficit-paris-economy-government

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