A few days of summer school, the Socialist candidates for the primary benefit of the current economic responsibility to detail their proposals. Review details. The six candidates for the Socialist primary, with François Hollande, Ségolène Royal and Martine Aubry, formulate proposals on each of the debt crisis, in conjunction with their joint project.
Just back from vacation, the main socialist leaders resume the hand. At two months of the primary, and for a responsible economic climate, the interviews are increasing. Fiscal balance, sovereign debt crisis, the fight against speculation …Martine Aubry, François Hollande, Segolene Royal as well as Manuel Valls, Arnaud Montebourg and Jean-Michel Baylet take the distance from the joint to defend their own ideas.
To restore the public finances:
Asking him to vote his golden rule budget, Nicolas Sarkozy forced the PS to clarify its proposals on debt and deficits. All candidates for the Socialist primary for now refuse to follow the initiative of "president-deficit", as nicknamed Ségolène Royal. But they are not less than the restoration of a priority for fiscal 2012.
To increase state revenue, the Socialists will return to the "tax breaks" introduced by Nicolas Sarkozy. In an interview Sunday in JDD, Martine Aubry proposed that 10 billion of tax loopholes created on 70 billion since 2002, while giving up the tax exemption of overtime.But for the former first secretary, budget constraints should not prevent investment: it promises to affect "50% of financial flexibility, elimination of tax loopholes, increase to deficit reduction, and 50% the financing of investments for the future. " A dose of austerity like that suffered by Greece as it would lead "to the recession without addressing the deficits."
Unlike Martine Aubry and François Hollande – who even want to include it in the Finance Act 2012 – Arnaud Montebourg has no plans to return to a deficit of 3% of GDP in 2013. "[This] would mean a lifting of taxes of 30 billion euros in the finance bill in the fall of 2012.Both socially untenable, it would be productive because in addition against the opinion of many economists, it should support, not to stifle the recovery in growth and tax revenues associated, "he writes on his his campaign site.
Manuel Valls is the only head-to evoke a possible tax increase for individuals: "To say that taxes will not increase is lying to the French," he said in an interview with Liberation. The candidate is also alone in defending the idea of a social VAT "antidélocalisation", in addition to a new local taxation and a return on the reform of the ISF.
To help the euro area:
The Tuesday meeting between Angela Merkel and Nicolas Sarkozy has convinced no one in PS.Only the radical Jean-Michel Baylet sees on his blog "a first step (…) and a first warning to speculators."
The strongest criticism concerns the rejection of Euro-bonds, an arrangement defended by socialists. The introduction of a tax on financial transactions is considered positive, but vague or unfinished. In the JDD, Martine Aubry speaks "the creation of a European tax on financial transactions of 0.05%: this will limit speculation and provide 200 billion euros to cut debt and finance part of investment for the future" .
If elected, François Hollande promised "to accelerate its development with the countries that agree to circumvent the British veto." Arnaud Montebourg sees a way to "repay the debt created by the crisis.""Regaining financial independence of Europe is the only credible and viable condition to get out because of the crisis," he judge on his blog.
The member for Saône-et-Loire also advocates "a debt reduction plan involving European banks required that will give some of their claims." Manuel Valls would like to see him launch a major European loan. The European Fund for financial stability, "buy the debt of the States" as-Valls is also central to the project, Martine Aubry requesting a doubling of its resources.Created in the spring, "the fund is still not set up and staffing of 440 billion seems already sufficient in terms of what it will be necessary to support Italy, Spain and perhaps to others, "Francois Hollande warned, however, the microphone 1 in Europe.
To combat speculation:
"It is time to take up the policies on finance," said Martine Aubry Sunday. Arnaud Montebourg to win this one called "open conflict" with the financial sector, the candidates have their own weapons. "I request the AMF to publish the list of financial institutions which speculated against the United States," said Segolene Royal in Paris, which calls for the prohibition of speculation in government debt.To punish the banks' biting the hand of those who rescued two years ago, "he recalls Arnaud Montebourg a" prohibition of speculation in the financial markets for any bank that has a license on our territory and subsidiaries ".
Another target of the Socialists, the rating agencies, accused of fanning the crisis of sovereign debt. Ségolène Royal and Arnaud Montebourg want to dismantle them in favor of a European public agency. Martine Aubry calls for the "creation of independent rating agencies of financial power." Jean-Michel Baylet was shown by asking him to open an investigation into possible conflicts of interest agencies. He expressed support for a European supervisory authority to oversee the work of agencies.