EU referendum: French President Francois Hollande says proposals have been changed overnight

James Nickerson
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Hollande wants "a financial regulation system which is valid in all parts of Europe" (Source: Getty)

French President Francois Hollande has said that proposals have changed overnight, as he prepared to join the other 27 member states in the second day of intense negotiations on Prime Minister David Cameron's draft reforms.

Speaking to reporters before the talks began, Hollande said that France continues to resist any deal that gives non-Eurozone states more power to stall financial regulation.

"Since last night, there are proposals that have been changed, notably on what concerns France - the wish to have a financial regulation system which is valid in all parts of Europe, and that there should be no right of veto or prevention," he said.

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France has previously suggested the push to protect non-euro countries from Eurozone regulations will give the City of London an unfair advantage.

Hollande said France wanted to make sure Europe would be able to "fight against speculation and fight against financial crises in the same way and with the same organisations everywhere".

The French President's comments come as Cameron also faces tough negotiations on the issue of restricting migrant benefits.

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At the end of talks yesterday number 10 source had said that there was a "significant gap on a number of issues", including Cameron’s plans to obtain new safeguards for the City of London and a limit on welfare benefits for EU migrants.

But Nigel Farage, leader of the UK Independence Party, remains confident Cameron will walk away with something, saying the council knows that if they send him back with nothing the chances of Brexit will increase.

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