August 4, 2014 / 11:17 AM / 3 years ago

France urges ECB, Germany, to do more against deflationary risk

PARIS, Aug 4 (Reuters) - The European Central Bank and EU powerhouse Germany must do more to boost growth and fight a “real deflationary risk” in Europe, French President Francois Hollande told Le Monde daily in an interview.

“A lot will depend on the level of the euro, which has weakened over the past few days but not enough,” Hollande said. “The ECB must take all necessary measures to inject liquidity in the economy.”

While the French government has started warning that it might be difficult to meet an EU deadline to bring its public deficit under 3 percent of GDP next year, Hollande said:

“We are not asking for any leniency from Germany but we are asking it to do more to boost growth. Its trade surplus and its financial situation allow it to invest more. That would be the best thing it could do for France and Europe.” (Reporting by Ingrid Melander; Editing by Blaise Robinson)

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