PARIS (Reuters) – Arnaud Montebourg, a tousle-haired leftist with a fiery streak, endeared himself to French TV viewers last year when he used a debate among presidential contenders to demand an end to the jobs pain he says globalization has inflicted on France.
Nine months on, as the grandly titled Industrial Renewal Minister, Montebourg is grappling with a swathe of layoffs as the new Socialist government is put to the test over its election pledge to bring down unemployment.
BERLIN/PARIS (Reuters) – In the lush gardens of the Elysee Palace in Paris, the seeds of a new Europe may have taken root. It was there, hidden away from EU summits and photocalls, that French President Francois Hollande and German Chancellor Angela Merkel began to forge a closer relationship than many expected.
On June 27, the two leaders met privately in Paris and, after weeks of public tension preceding Hollande’s May 6 election, had a lengthy one-on-one discussion, French officials said.
PARIS (Reuters) – French President Francois Hollande’s role in goading Germany towards more flexibility in aiding debt-laden euro zone states positions him well to win parliamentary support for stiffer budget discipline rules he once swore to rewrite.
The Socialist leader led a revolt against Berlin’s austerity focus that resulted in a hard-fought deal on Friday offering more help to struggling Spain and Italy in return for joint European banking supervision, and deeper fiscal union down the road.
BRUSSELS (Reuters) – Italy and Spain, battling searing market pressure in the euro zone’s widening debt crisis, blocked agreement on measures to promote growth at a European Union summit on Thursday to demand urgent action to bring down their borrowing costs.
Italian Prime Minister Mario Monti and his Spanish counterpart, Mariano Rajoy, refused to sign off on a 120 billion euro ($149 billion) growth package until EU paymaster Germany approved short-term measures to ease their cost of credit.
BERLIN/PARIS (Reuters) – German Chancellor Angela Merkel sought to bury once and for all the idea of common euro zone bonds on Tuesday, saying Europe would not share total debt liability “as long as I live”, as the bloc’s big four finance ministers met to narrow differences on how to solve a worsening debt crisis.
Two days before a crucial European Union summit, European Council President Herman Van Rompuy released a seven-page report on closer fiscal and banking union envisaging a euro zone treasury that would issue common debt in the medium term.
PARIS/BRUSSELS, June 26 (Reuters) – Finance chiefs of the
euro zone’s four biggest economies will hold last-minute talks
in Paris on Tuesday evening to try to narrow differences on the
currency area’s future after Cyprus became the fifth country to
request a bailout.
Ministers from Germany, France, Italy and Spain will discuss
how to manage the crisis in the short term and proposals for
closer long-term fiscal and banking integration to prepare for a
European Union summit starting on Thursday.
PARIS/BRUSSELS (Reuters) – Finance chiefs of the euro zone’s four biggest economies will hold last-minute talks in Paris on Tuesday evening to try to narrow differences on the currency area’s future after Cyprus became the fifth member to request a bailout.
Ministers from Germany, France, Italy and Spain will discuss how to manage the crisis in the short term and proposals for closer long-term fiscal and banking integration to prepare for a European Union summit starting on Thursday.
PARIS, June 24 (Reuters) – French President Francois
Hollande may have set himself up for a fall this week, as
Germany’s Angela Merkel shows no sign of yielding to his push to
provide more financing guarantees to stabilise the euro zone.
The Socialist leader has raised the stakes for a June 28-29
European Union summit with his drive for a bank deposit
guarantee scheme to protect euro zone savers and governments and
for steps towards mutualising debt and reviving growth.
PARIS, June 21 (Reuters) – France’s Socialists plan
unpopular welfare and civil service job cuts next year in an
effort to trim up to 30 billion euros from the deficit,
calculating that tax rises on the rich will convince the less
well off to accept their share of the pain.
President Francois Hollande won election last month
promising to rescue the nation’s finances and persuade a
sceptical Germany that growth, not austerity, was the key to
reviving the troubled euro zone’s economy.
PARIS (Reuters) – France will only sign up to a process of deeper economic integration in Europe if urgent measures to pull the euro zone out of crisis are agreed upon at the same time, European Affairs Minister Bernard Cazeneuve said on Tuesday.
Paris and Berlin are both determined to reach an accord at an end-June European Union summit to calm the raging euro zone crisis but they disagree on the process required to get there, Cazeneuve told Reuters.