LONDON - France seeks eurozone stability package. France is pressing the EU to adopt a financial stability package to stem the eurozone crisis, believing negative market reaction to the 100bn bailout of Spains banks shows the need for more comprehensive action. Ahead of the EU summit due on June 28, Paris is set to propose a package of measures to put the European Central Bank in charge of bank supervision and to use the European Stability Mechanism, the new 500bn eurozone rescue fund due to come into force next month, to recapitalise banks directly.
President Franįois Hollandes new Socialist government has made clear in recent days that it regards agreement on urgent moves to tackle the eurozone debt crisis as the top priority, ahead of German insistence on taking further steps to towards closer political and fiscal union within the single currency area...
Financial Times
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