Euro Crisis

Europe's Identity Threatened by Recession, Says Hollande

How can they be lazy slackers if there's nobody to live off?

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French President Francois Hollande says recession is now "threatening the very identity of Europe".

Speaking at a news conference in Paris, he said the financial crisis was now under control and "behind us" but "what is hitting Europe is a recession… provoked by the austerity policy".

Mr Hollande was speaking after figures showed France to be back in recession.

He said he would push for the creation of a eurozone economic government with a real president, to meet every month.

That government would aim to harmonise European taxes and mutualise sovereign debt, he said.

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