Reuters: US Dollar Report: French PM says stability in Europe is top priority

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French PM says stability in Europe is top priority Aug 29th 2012, 13:02 PARIS | Wed Aug 29, 2012 9:02am EDT PARIS Aug 29 (Reuters) - France's policy priority is to restore stability to Europe, Prime Minister Jean-Marc Ayrault said on Wednesday, pledging that Paris would stick to its EU budget deficit commitments. "Today, the crisis in the euro zone is weighing heavily on economic activity. Our priority is to reestablish a stable environment in Europe so that our companies can fully benefit from the single market," Ayrault told a conference of business leaders. "From that point of view, we need to reinforce France's financial credibility," he said, alluding to a deficit target of 3 percent next year, which he acknowledged would involve difficult spending restraint. "This target will be met." Amid speculation that President Francois Hollande was siding with euro zone stragglers Italy and Spain against the austerity policies of German leader Angela Merkel, Ayrault stressed that Paris and Berlin remained closely aligned. "The Franco-German couple is more necessary than ever," he said, adding however that this could not be an exclusive pact.

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