32 images Created 30 Aug 2012
François Hollande at the french Residence - Madrid
The French president makes his maiden official visit to Madrid as the European Central Bank scrambles to work out a mechanism for buying some eurozone governments' bonds so as to curb those borrowing costs.Many thought Hollande’s victory over Sarkozy in France’s May 6 presidential election would turn the tide on the German chancellor’s strict recipe of budgetary discipline and spending cuts.
Speaking at a press conference following talks in Madrid Thursday with Spanish Prime Minister Mariano Rajoy, Hollande urged politicians to use the next European Union summit on Oct 19. "to make decisions concerning the eurozone, lasting decisions."
Hollande was referring to delays in introducing measures agreed at a summit in June to grant countries easier access to bailout money and set up a single banking regulator that could take the burden of bank bailouts off national governments.
The French leader's remarks came as the financial problems of Spain's regional governments put the country under even greater pressure to ask for a bailout.
Speaking at a press conference following talks in Madrid Thursday with Spanish Prime Minister Mariano Rajoy, Hollande urged politicians to use the next European Union summit on Oct 19. "to make decisions concerning the eurozone, lasting decisions."
Hollande was referring to delays in introducing measures agreed at a summit in June to grant countries easier access to bailout money and set up a single banking regulator that could take the burden of bank bailouts off national governments.
The French leader's remarks came as the financial problems of Spain's regional governments put the country under even greater pressure to ask for a bailout.
