Hollande stirs up anxiety over EU fiscal pact

The vow by François Hollande to renegotiate the EU fiscal treaty if he is elected president of France is not as unrealistic as it seems, writes Catherine Field in Paris.

28th April, 2012
Hollande stirs up anxiety over EU fiscal pact
Angela Merkel and Nicolas Sarkozy: is the 'Merkozy' alliance facing a break-up? Photo: Getty

If socialist challenger François Hollande becomes France's next president, Europe can expect tensions unless he and German chancellor Angela Merkel swiftly establish a good relationship and cement the eurozone's fiscal pact.

Hollande has sparked fears of another market crisis by vowing to renegotiate the pro-austerity treaty arduously crafted by Merkel and the current French president, Nicolas Sarkozy.

But with a week left in the campaign, analysts say Hollande's demand is less problematic than...

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