Press and Photo Gallery
FRANCE TO ESCAPE PUNISHMENT
Wednesday 22nd October 2003
France will not be punished for breaching the Growth and Stability Pact, it was announced today.
In theory, France could have been fined up to 0.5 percent of its GDP for transgressing the rules, but the European Commission has failed to take significant action.
Timothy Kirkhope, Conservative MEP for Yorkshire and the Humber, said:
"This is another blow to the credibility of the Euro - another fudge to disguise poor economic performance in Euroland.
We were told by the supporters of the Euro that Stability Pact rules were vital to ensure that the Euro worked well. Now they are being flouted by France, which is getting off scot-free. It is no wonder opposition to the Euro is at an all-time high in the UK."
