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Sealed with a kiss: the far-reaching financial proposals were prepared by France and Germany and dished up to other EU states on Friday (Photo: consilium.europa.eu)

Franco-German 'Pact for Competitiveness' hits immediate opposition

The abolition of salary indexation systems, greater harmonisation of member state corporate tax rates and an overhaul of national pension systems are among the measures contained in a Franco-Geman 'Pact for Competitiveness' for the eurozone, put forward at the EU summit on Friday (4 February).

Other elements included the insertion of a "debt alert mechanism" into national constitutions, the mutual recognition of educational diplomas and the establishment of national crisis management ...

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Sealed with a kiss: the far-reaching financial proposals were prepared by France and Germany and dished up to other EU states on Friday (Photo: consilium.europa.eu)

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