Sarkozy's finance chief: More cutbacks needed

Paris: French President Nicolas Sarkozy’s finance minister says Europe’s debt crisis isn’t over and that countries across the continent have to do more to cut costs. Sarkozy is fighting for his job ahead of a presidential election runoff 6 May. Polls suggest Socialist challenger Francois Hollande, who has railed against Sarkozy’s budget cuts and wants state-sponsored growth programs instead, will win. Finance Minister Francois Baroin said on Europe-1 radio Wednesday that renewed market turmoil this week shows “the crisis never really left,” according to the Europe-1 website. [caption id=“attachment_288475” align=“alignleft” width=“380” caption=“French President Nicolas Sarkozy’s finance minister says Europe’s debt crisis isn’t over and that countries across the continent have to do more to cut costs. AP”]  [/caption] He insisted, “all countries must reduce their deficits. All countries have to make efforts, including France.” Hollande, meanwhile, promised Wednesday to intervene to protect workers from layoffs. AP