French President François Hollande's arrival and doorstep interview at the October 2012 European Council Summit.
"I will tell Merkel that we have to implement the decisions that we took together last June, which were good decisions, notably the Growth Pact that we need to implement together for the stability of the Eurozone. Since we took these decisions we regained a certain calm in the markets so we need to implement now the banking union, meaning the supervision of banks by the ECB so that we are not faced again with crisis that ravage the Euro area. This summit takes place in the context of social unrest and economic hardship, with growth figures which are unacceptable by any country, be it Germany or France."
"The budget treaty approved by France has not yet been ratified by all the other countries so it is no time yet to discuss about another treaty on the same subject, let's first implement the one we just approved. The subject of this summit is the banking union, not anymore the budgetary union."
"There are reasons to believe that we'll get out of the Eurozone crisis, because we took the right decisions in June and the role of this Council is to implement them for the sake of Europe and the Euro area. There are proposals to reinforce the budgetary union, we will hear about them later, but the object of this summit is to implement the banking union. Before starting to deal with the next steps we need to finish the banking union."
"In June, during the European Council, we decided to have a joint banking supervision before the end of the year. We're in October so we need to be coherent and make sure we're ready before the end of the year. Of course there will be more steps to be taken later, to allow for the recapitalisation of banks, but first we need this banking supervision."
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