French President Nicolas Sarkozy
Media playback is unsupported on your device
Video

Sarkozy outlines 'new economic cycle of debt reduction'

The French President, Nicolas Sarkozy, has painted a bleak picture of the economic future of his country and Europe.

Addressing a gathering of supporters, he said all countries would have to adjust to a "a new economic cycle of debt reduction".

The French president's speech in Toulon comes amid warnings by analysts that France could lose its triple-A credit rating, due to its exposure to the European debt crisis.

  • 01 Dec 2011
  • From the section Europe