France has expressed regret over Britain’s decision to reject a new international agreement aimed at establishing a stronger fiscal rule in the European Union.

French Finance Minister Francois Baroin said Monday in an interview with French news channel BMF TV that it would have been better if Britain had "followed this historic movement." Britain is the only European Union member country that vetoed the new fiscal compact.

French Foreign Minister Alain Juppé also told a radio interview that Britain has isolated itself with its decision.

British Prime Minister David Cameron refused to participate in the new fiscal compact at the EU Summit held on December ninth, saying that the agreement does not align with the interests of his country.