Hollande seeks full EU political union within two years

(Source: Reuters)

*Plans not to raise taxes until 2014.

French President Francois Hollande has called for full political union within two years, saying that the Eurozone should have a full economic government with budgetary capacity, harmonised taxation and its own president.

Hollande stated that he can't ask households to pay more and wouldn't "ideally" raise taxes until 2014. The socialist leader also said that France's pension plan is current unsustainable and that French people will have to work longer. He added that the country will see growth of about zero in 2013.