French President Nicolas Sarkozy, candidate for reelection, has defended the economic reforms of his term because without them the country would be like Spain and Greece, and stressed that failure to strictly comply with the goals of deficit reduction, the types of debt will soar.
“If we start hiring staff, if we spend, not that there is a risk that interest rates increase, it is a certainty that will immediately trigger a crisis of confidence,” he said in an interview on radio station ” France Info “when asked about the threat that the rates charged on the debt France and Spain rise.
He recalled that France has to borrow every year to EUR 42,000 million to pay debt interest, and that now makes 3%, “an extremely low rate.”
“If we do not respect strictly the line of deficit reduction, the next minute interest rates will rise,” said the president-candidate, adding that if he returns to get elected on 6 May, “there will be no tax increase after the elections because we’ve done our homework before. ”
Sarkozy, who said he has done “everything possible to protect the French from the crisis,” appealed to voters to arise if “what happens in Greece or Spain could happen in France,” and he it responded by criticizing both his main rival and favorite in the polls, the Socialist candidate, François Hollande.
“If we had not made the reforms we have made, including pensions, if we spend without thinking, if we question the pension reform, if we undo the work we’ve done with François Fillon (prime minister) , why do not we happen to us what happens to others? “argued the Conservative leader.
He noted that “in Spain have had to lower pensions, have had to lower wages in the public administration, unemployment has increased by 225%, while in France has grown by 17%.”
“If I had not made the pension reform, if it had not implemented the removal of one of two staff positions when they retire, would it not be in the situation of others?” He repeated.
He boasted that since the beginning of the crisis, France was “the only European country” in which the purchasing power has improved every year, on average by 1.4% and the increase in unemployment has been the most reduced after Germany.
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