Brussels, 20/04/2012 (Agence Europe) - French Socialist MEP Pervenche Berès has listed five parts of the fiscal compact that will need to be renegotiated to ensure proper balance in economic governance in Europe if French Socialist candidate for the French presidential elections in May, François Hollande, comes to power. In a publication issued jointly by the Institut Français des Relations Internationales (IFRI) and the Comité d'Etudes des Relations Franco-Allemandes (CERFA), she lists the five areas: (1) deciding at eurozone summits on policies to back sustainable development and job creation as crucial preconditions for cutting public deficits; (2) paying the same attention to macroeconomic imbalances within the European Union as to pursuing budget consolidation; (3) clearly establishing the goal of achieving stable markets, particularly in the eurozone; (4) introducing eurobonds to organise solidarity in return for a more integrated budgetary appraoch; and (5) establishing a European Treasury, in connection with the new European Stability Mechanism, under the aegis of a vice-president of the European Commission with responsibility for the euro and economic growth. Berès also argues for the ESM to be given a bank licence so that it can access ECB cash. (MB/transl.fl)