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Mon Feb 11, 2013, 06:55 AM

Analysis - France runs into German wall on EU growth drive

(Reuters) - French efforts to divert Europe from economic austerity have foundered twice in a week due to German resistance, underlining a growing policy divide that is hobbling the core partnership.

Berlin rejected President Francois Hollande's call on Tuesday to set a mid-term target for the euro, a move he hoped would bring the single currency down to a level that would make it easier for French industry to sell its goods abroad.

Three days later, German Chancellor Angela Merkel joined forces with Britain's David Cameron at a Brussels summit to push through the first ever cut in the 27-nation's budget, taking an axe to spending on infrastructure projects backed by Paris.

"Is it the budget I would have liked if it was just up to me? No. But the problem with Europe is that there are others involved," a resigned Hollande told reporters after all-night talks secured a deal on EU funding from 2014-2020.

http://uk.reuters.com/article/2013/02/10/uk-eu-france-idUKBRE91903F20130210

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