FLAGRANT UNILATERALISM:

France escaped hefty fines today despite flagrantly breaching EU rules on running the single currency.

The let-off from the European Commission triggered fresh attacks on the euro’s credibility, with warnings that the UK could not be expected to join the currency while others were allowed to ignore the rules.

The Commission acknowledges that the French government is failing to keep its economy in line with EU requirements.

But this afternoon in Brussels it ducked the embarrassing option of punishing a country which says its domestic requirements on spending and deficits mean it cannot meet the strictures of the much-maligned Stability and Growth Pact.

These people have no respect for international agreements. . . .