French Socialist presidential candidate Francois Hollande’s proposals to stimulate economic growth in Europe are “right” and in line with demands by Germany’s Social Democrats, Frank-Walter Steinmeier, the leader of the SPD in Germany’s parliament, told Hamburger Abendblatt.
Europe needs a growth pact to complement its fiscal pact on budget discipline, Steinmeier said, according to the newspaper. If all nations in Europe cut spending at the same time, economic growth suffers and jobs are lost, the newspaper cited him as saying.
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