France 'ready to share budget sovereignty'

France must agree to share sovereignty over its budget with its EU partners, French Budget Minister Jerome Cahuzac said on Tuesday. He told BFM TV and RMC radio: "This is what we are talking about, budget solidarity in Europe which implies that not only that the French budget, but also the German, Italian and Spanish budgets be subjected to a review by all our partners." He said: "This does not mean abandoning sovereignty, it is sharing." Speaking against a background of strong tensions between France and Germany in the last two weeks, Cahuzac said: "France and Germany have to work together ... Germany has to stop imagining inflation everywhere ... and France has to understand that it is also perhaps in the interest of our country, for France to move towards this sharing of sovereignty." The minister said that "without a profound reform of Europe, of its organisation, of its governance and of its policies, not a single country can cope."