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French President Francois Hollande arrives to deliver a speech at the Elysee Palace in Paris May 16, 2013.
French President Francois Hollande arrives to deliver a speech at the Elysee Palace in Paris May 16, 2013.
(Benoit Tessier/Reuters)

BREAKINGVIEWS

Hollande’s reform agenda plays to German interests

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

François Hollande knows that the widening Franco-German divide lies at the heart of the euro zone crisis. In a press conference on Thursday, the French president showed that he wants to find a way to work with German Chancellor Angela Merkel to take Europe forward. He suggested the creation of an “economic government” of the monetary union, while addressing a key German concern: Paris seems ready to accept sovereignty transfers of a sort that would make such a centralised body effective.