Brussels, 27/04/2012 (Agence Europe) - French Socialist candidate in the French presidential elections, François Hollande, explained on French television on Thursday 26 April what he is planning to do if he wins the elections. He said he would not be challenging the serious matter of budget discipline and penalties, but it was not possible to achieve the budget targets without economic growth. If elected, he said he would send his EU partners a memorandum setting out measures to be taken to encourage economic growth at a time when Europe is the world's only continent where economic growth is lacking. He said his ideas would supplement the fiscal compact, although the German chancellor, Angela Merkel, is at the moment refusing to renegotiate the fiscal compact. Hollande said he would be recommending the creation of a eurobond, using the EIB to finance infrastructure investment likely to encourage growth and making use of unused EU Structural Funds. French Socialists are in favour of a financial transaction tax. Hollande said it was positive that other European leaders, like the prime minister of Italy, Mario Monti, or Merkel (see related article), are now talking about growth, although their structural reform approach was different from Hollande's. French Socialists want France to plan to return to a balanced budget in 2017, rather than the current government's target of 2016. (MB/transl.fl)