For a long time many believed that there would be an automatic adjustment and counted on a rapid increase in the wages of the emerging nations, on our advances in technology and the costs of transport preventing disruption. But this reassuring analysis is out of date.
Laurent Fabius

The demographic weight of countries such as China and India exercise a massive pressure on our wages and salaries. They have accomplished massive technological advances and the revolution in information technology has reduced the costs of transport.
Laurent Fabius

There are 20 million unemployed and what does the Constitution offer us in the Europe of 25, 27 and soon to be 30: policies of unrestricted competition to the detriment of production, wages, research and innovation.
Laurent Fabius

At the same time the Constitution sets in stone the Stability Pact and risks preventing member States from implementing a policy of growth. So we are not able to do things at the European or the national level.
Laurent Fabius

But Maastricht was not the end of history. It was a first step towards a Europe of growth, of employment, a social Europe. That was the vision of Francois Mitterrand. We are far from that now.
Laurent Fabius

The single currency should allow the European Union, and therefore France, to balance its monetary strength with the United States. It should help us adjust to the development of China.
Laurent Fabius

France on its own cannot impose its point of view. But neither should it give up on its demands. With a clear vote for change France will be in a strong position.
Laurent Fabius