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May 18, 2012

Schaeuble: euro zone market turmoil to last 12-24 months

PARIS, May 18 (Reuters) – Market turmoil over the euro zone
crisis could last another 12 to 24 months, German Finance
Minister Wolfgang Schaeuble said on Friday, saying it was up to
the Greeks to decide if they wanted to stay in the single
currency.

Schaeuble said he was confident France’s new Socialist
government would ratify Europe fiscal pact because policymakers
were working on a strategy to improve growth, as demanded by
French President Francois Hollande.

May 17, 2012

Hollande taps old hands, new faces for French government

PARIS (Reuters) – French President Francois Hollande named a government dominated by moderate left-wingers on Wednesday after Socialist Party boss Martine Aubry, overlooked for the post of prime minister, said she no longer wanted to be part of the new cabinet.

Hollande, sworn in on Tuesday as France’s first Socialist president in 17 years, named Pierre Moscovici as finance minister and Laurent Fabius as foreign minister, key posts under Prime Minister Jean-Marc Ayrault, like them a social democrat.

May 16, 2012

Hollande taps old hands, new faces for French govt

PARIS (Reuters) – French President Francois Hollande named a government dominated by moderate left-wingers on Wednesday after Socialist Party boss Martine Aubry, overlooked for the post of prime minister, said she no longer wanted to be part of the new cabinet.

Hollande, sworn in on Tuesday as France’s first Socialist president in 17 years, named Pierre Moscovici as finance minister and Laurent Fabius as foreign minister, key posts under Prime Minister Jean-Marc Ayrault, like them a social democrat.

May 16, 2012

French finance minister Moscovici a European specialist

PARIS (Reuters) – Pierre Moscovici, named French finance minister on Wednesday, is a reform-minded Social Democrat whose expertise in European affairs will prove valuable as France leads a fight-back against Germany-led austerity in Europe.

The bald 54-year-old, who was a junior European Affairs minister in a previous Socialist government, was catapulted to France’s top economics job after managing Francois Hollande’s successful campaign for the presidency.

May 16, 2012

French finmin Moscovici a European specialist

PARIS, May 16 (Reuters) – Pierre Moscovici, named French
finance minister on Wednesday, is a reform-minded Social
Democrat whose expertise in European affairs will prove valuable
as France leads a fight-back against Germany-led austerity in
Europe.

The bald 54-year-old, who was a junior European Affairs
minister in a previous Socialist government, was catapulted to
France’s top economics job after managing Francois Hollande’s
successful campaign for the presidency.

May 16, 2012

Hollande govt to be dominated by moderates, Aubry out

PARIS, May 16 (Reuters) – The government of France’s new
President Francois Hollande is likely to be dominated by
moderate social democrats after party leader Martine Aubry,
overlooked for the prime minister’s role, said on Wednesday she
would not be in the cabinet.

Aubry, daughter of former European Commission president
Jacques Delors and on the left of the Socialist Party, who was
once tipped to be its candidate in the presidential election,
made it clear she was unhappy to accept a consolation post.

May 16, 2012

France’s Hollande to give moderates key cabinet jobs

PARIS (Reuters) – French President Francois Hollande is to unveil his government on Wednesday, likely to opt for moderate social democrats in the key posts of finance and foreign affairs and put a more old school Socialist in charge of a new super ministry for youth and education.

The cabinet, due to be announced in early afternoon, is expected to respect gender parity and reflect Hollande’s pledge to make schools and youth employment a central priority of his administration.

May 15, 2012

French PM knows corridors of power in Paris, Berlin

PARIS (Reuters) – France’s new Prime Minister Jean-Marc Ayrault is a German-speaking parliamentary veteran whose familiarity with the corridors of power in Berlin may prove invaluable as Paris seeks to temper Germany’s austerity drive in Europe.

The stately, silver-haired Ayrault – a former German teacher and long-time ally of president-elect Francois Hollande – has made pragmatism his hallmark in holding together the Socialists’ fractious parliamentary group as its floor leader since 1997.

May 15, 2012

French economy stalls, posing challenge for Hollande

PARIS, May 15 (Reuters) – France’s economy stalled in the
first quarter as household consumption flatlined, businesses
pared back investment and exports slowed, underlining the
challenge facing Socialist President Francois Hollande as he
takes office on Tuesday.

It may add to his drive to pus the euro zone to adopt growth
as well as austerity policies.

May 15, 2012

German economy powers on, French growth evaporates

BERLIN/PARIS (Reuters) – Germany’s economy confounded expectations by posting robust growth in the first quarter of the year while France could summon up none at all, data showed on Tuesday.

Gross domestic product in Germany, Europe’s biggest economy, rose by 0.5 percent on the quarter, bouncing back from a 0.2 percent slide in the last three months of 2011. France’s economy stagnated, although it grew slightly at the end of last year.