Hollande to hold tough on growth plan

French president-elect François Hollande signalled to Germany yesterday that he will not be deflected from his drive to change Europe’s focus from austerity to growth after German chancellor Angela Merkel rejected any economic stimulus on credit.

Mr Hollande met Eurogroup president Jean-Claude Juncker in Paris as he tries to rally European partners to support his push to change the focus of eurozone policy.

He will travel to Germany on Tuesday after his inauguration to press his demand to add growth measures to Europe’s budget discipline treaty with Ms Merkel.