With
desire for a collective plan common among countries in the European Union,
there have been talks of an arrangement in recent months. Each country has
their own expectations for the plan, and, along with that, their own agendas
and opinions of what they believe is best or most effective. France refuses to
consent to a budget plan without assurance that it would involve taking actions
to boost the economy. This agreement was consented to by many European leaders
in 2011 with no plans of reconsideration or alterations to the plan. The plan
was opposed by French Finance Minister Pierre Moscovici. According to Francois
Hollande, France will have its own system when it comes to economic recovery
and growth. The government’s cabinet has accepted a 30% salary reduction, which
will also affect the president. President Hollande has expressed his desire to
lead by example, even if that means taking a pay cut. German Chancellor Angela
Merkel commented on the progression of the European economy, saying that plans
for growth must not cause more debt, but rather, be sustainable. She went on to
say that Europe must show that they are united and a collective force.
I think
it is really interesting that many countries can agree on a plan to deal with
their economies, or economy depending on the way one thinks about it. Growth
and success of European governments positively affect countries outside of
Europe, and therefore, international business. I think it is very admirable
that Hollande wishes to lead by example and take a salary reduction. I believe
more leaders and wealthy individuals should do just that. It shows that they
care about the welfare of their entire country, not just themselves.
Article:
Staff, CNN Wire, Alexander Felton, Laura Perez Maestro,
Laura Smith-Spark, and Rachel Ramsay. "French Finance Minister Says No EU
Fiscal Pact without Growth." CNN. Cable News Network, 01 Jan. 1970.
Web. 20 Mar. 2013.
Image:
http://www.guardian.co.uk/business/2012/sep/02/bail-out-credit-immobilier-france
.
Willsher, Kim. "French Government to Bail out Crédit
Immobilier De France." The Guardian. Guardian News and Media, 02
Sept. 2012. Web. 20 Mar. 2013.
