Sarkozy says debt crisis not over

Updated: 2012-01-01 07:40


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Sarkozy says debt crisis not over

France's President Nicolas Sarkozy presents his New Year's message to the nation from the Elysee Palace, in this still image taken from video, in Paris December 31, 2011. [Photo/Agencies]

PARIS - French President Nicolas Sarkozy said Saturday in his New Year greetings that spiralling debt crisis is not finished, urging more work to boost growth and competitiveness in 2012.

"This unprecedented crisis, probably the worst since the Second World War is not over yet but there are reasons for hope and we must, we can keep confidence in the future. 2012 will be the year of all the risks but also of hopes." French president said.

"The problem is not that of a new package of spending cuts for the coming year. What should be done has been done by the government. Now we need to work primarily for growth, for competitiveness, for the re-industrialization which will enable us to create jobs and purchasing power," the president said in a televised New Year's address.

Sarkozy believed that "in 2012, France's destiny can once again be changed. Emerging from the crisis, creating a new growth model and bringing about a new Europe, these are some of the challenges that lies ahead of us."

He convinced that together with the European partners, they can be stronger enough to address these challenges.

Facing the risk of losing triple-A rating, the French president argued that "I don't underestimate the consequences that the rating agencies, financial markets and our past mistakes can have on our economy. But let me say, it is neither the market nor the rating agencies that will make French policy."

Sarkozy said there are reasons being hopeful. "We must remain confident in the future because if many countries had experienced insurmountable difficulties, France resisted."

He declared that the government will devote higher interest on French job seekers following disappointing job data and pledged to put training of jobless people on top of his agenda at the last four months of his mandate.

"we must change our perspectives of employment to ensure that the training of the jobless become the absolute priority so that everyone can build a secure future for themselves, trained and not just receiving benefit," the president said, "That must be our goal."

Sarkozy planned to meet on January18 representatives of the country' economic and social forces to seek ways to breathe life into the domestic job market.

"On January 18, with prime minister, we will get together to listen to the proposals from representatives of economic and social forces and by the end of January, we will take important decisions because the issues are crucial," Sarkozy noted.

In his last New Year's greeting message, Sarkozy pledges to energise efforts enough to assume his responsibilities in a likely move to regain voters confidence ahead presidential election scheduled next April.