Arab Today, arab today debt crisis threats france\s sovereignty pm
Last Updated : GMT 12:04:57
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Debt crisis threats France\'s sovereignty: PM

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Arab Today, arab today Debt crisis threats France\'s sovereignty: PM

Paris - Xinhua

French Prime Minister Francois Fillion Thursday expressed concerns about debt crisis\'s impact on his country\'s sovereignty, urging more efforts to secure economic stability. \"Budget laxity is over from now on,\" Fillion said at a meeting of professional craftsmanship union. \"Our entire nation needs to make efforts if it wants to protect its political, economic and social sovereignty but primarily, the state, simply because it is the main spender,\" said the prime minister. \"With the president, we are totally committed to finding a solution to Greek and to ensure the stability of the euro,\" he added. Rating agency Moody\'s warned France on Monday of possible negative outlook in the next three months as its help to bailout the debt-ridden countries could stretch further its deficit and make it harder to meet growth and gap targets. In previous report, Finance Minister Francois Baroin said the country\'s gross domestic product (GDP) target of 1.75 percent for next year may be revised down due to sluggish economic activities and gloomy growth outlook. However, he stressed that France would do everything to keep its triple-A rating. Leaders of the European bloc will meet on Sunday in a fresh effort to accelerate Greece\'s next aid payment to avoid a default and stem the debt crisis. \"We never let down 60 years of political construction, for the simple reason that behind this collapse would be just the decline of Europe and nothingness,\" Fillion said.  

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