France opposed to reform of EU financing

13 October 1998

France opposed to reform of EU financing

FRANCE has affirmed its opposition to the proposed financial reform of Common Agricultural Policy.

The reform proposes to transfer a large share of European Union (EU) farm spending back to national budgets.

It would mean 25% of the EU spending on subsidise farm incomes would be “co-financed” through national budgets.

But Dominique Strauss-Kahn, the French finance minister, described the plan as “not in the spirit of community action”.

The changes are supported by big EU contributors including Germany, the Netherlands, Sweden and Austria.