In These New Times

A new paradigm for a post-imperial world

France’s president-elect raps Britain

Posted by seumasach on May 8, 2012


8th May, 2012

France’s President-elect Francois Hollande has launched a scathing attack on the British government saying Britain “is indifferent to the fate of the euro area”.

France’s Socialist leader said Britain is only obsessed with the protection of the interests of the City of London, reportedThe Mail

The British have been particularly shy about the issues of financial regulation, and attentive only to the interests of the City – hence their reluctance to see the introduction of a tax on financial transactions and tax harmonisation in Europe,” said Hollande.

Hollande is an advocate of an EU-wide transaction tax on financial deals and a fresh push for tax harmonization in Europe, to which Britain is opposed.

After Hollande’s victory over Nicolas Sarkozy on Sunday night, British Prime Minister David Cameron called him and said he looked forward to “building on the very close relationship that already exists between the UK and France”.

However, Hollande has a closer relationship with opposition Labour leader Ed Miliband as they held high-level talks when he visited London in February.

Hollande believes that a shift in focus away from austerity to growth could be a way towards pain-free economic growth for France and the eurozone saying “austerity can no longer be the only option”. Nevertheless, the British press have accused him of creating “cruel illusion”.

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