Euro Crisis

Europe's Identity Threatened by Recession, Says Hollande

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


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.