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Germany and France Continue Debate Over Debt

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  • Description

    Rabobank International’s Jane Foley on the ongoing fiscal problems facing the EU.

  • Duration 2:02
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U leaders meet in Brussels today for a summit and stocks ahead of that are in the green there as well.

-- up sixteen Paris is up about twenty and Frankfurt's up 47 let's take a closer look though what's moving the markets -- Jane Foley senior currency strategist.

At rabobank over in London.

Its public deficit with Germany saying friends can cut it to the EU limit of 3% of GDP this year while friend says.

That it can't so high expected to play -- -- -- with the summit going on.

Medical assistance at very difficult -- -- He's about -- conversation between Germany and France will keep hold of Europe because deficits as it is part of the whole of the crisis in the -- saying this has been part of the problems say the the last few years and also people have been pointing the finger at fonts and that then not doing enough to increase that -- Competitiveness that this is to get part of the crux of the issue -- with a loss of accusations against France.

And speaking of Germany -- that the country -- budget plans yesterday that show that it could take its borrowing down.

To six point four billion euros next year and bring it structural deficit to zero and the economy -- -- there minister says that this is a strong signal to Europe.

That's solid finances are essential -- that success is clearly possible with growth oriented consolidation so.

How old this impact the whole growth -- austerity debate again especially at the summit.

It's really very interesting that there is the argument that the agendas have just taken you've just outlined saying that they needs to set an example they needs to.

Good to austerity because -- -- of the rest of Europe is going through the same sort of saying.

That's significant counter argument hair and that is the hope that you have anything when -- list went off countries in in -- -- stimulate growth and F for help the exports.

Of one of the other countries in the system.

And -- -- -- a big disappointment if Gemini and not good to stimulate progress if the are instead getting to be able to stack T.

Because it means that everyone else the growth outlook -- less.

Aren't -- Jane Foley over rabobank thanks to -- we're --

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