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Merkel: EU fiscal compact not up for renegotiation

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Merkel: EU fiscal compact not up for renegotiation
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German Chancellor Angela Merkel says the new French president is welcome for talks in her country.

Merkel emphasised that she was was keen to work closely with socialist Francois Hollande, but would not renegotiate the European fiscal pact she championed with Nicolas Sarkozy.

“I will receive Francois Hollande here with my arms wide open. We’ll have intensive conversations, because German-French co-operation is essential for Europe,” Merkel said, speaking at a news conference.

Hollande has hit out at Germany’s emphasis on austerity to tackle eurozone debt and has called for policies to stimulate economic growth.