French candidate Hollande: 'My adversary is finance'
Tuesday 24 January 2012 - by David Marsh
François Hollande, the candidate for the Socialist party in France who is leading the opinion polls ahead of the presidential election on April/May, proposed on 22 January sweeping reforms of the European and French financial systems to combat speculation and restore growth.
The following is a translation of a key passage on the economy and Europe from Hollande's 105 minute speech.
‛The financial crisis has destabilised governments. The markets have gained universal rights, thanks to huge public debts. Europe cannot protect its currency against speculation. Our country faces record unemployment. It is sinking down into recession and austerity. Doubt is on the march. I see it every day. It weighs down Europe. It nurtures distrust of democracy itself. It spills over into indignation at injustice, at the limits of policy, at the indecency of the rich.
Before spelling out my project, let me tell you one thing. In this battle that is joined, I will reveal who is my opponent, my true adversary. He has no name, no face; he belongs to no party; he will never declare his candidature.
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