PARIS (Reuters) – France voted in a parliamentary run-off on Sunday expected to hand President Francois Hollande’s Socialist party a majority and strengthen his position in legislative battles over euro zone crisis policy.
A clear majority reliant neither on opposition conservatives nor eurosceptic hard leftists, as opinion polls suggest, would be a boon as Hollande prepares legislation to raise taxes, adjust budget spending and ratify an EU fiscal discipline pact.
BERLIN/PARIS (Reuters) – Germany’s Angela Merkel criticised France’s economic performance on Friday in a war of words with its new Socialist president, Francois Hollande, over how to tackle Europe’s deepening debt crisis ahead of a pivotal election in Greece.
Describing her own country as Europe’s “stabilising anchor and growth engine”, the centre-right chancellor told German business leaders that Europe should talk about the growing gap between the bloc’s two biggest economies.
BERLIN/PARIS, June 15 (Reuters) – Germany’s Angela Merkel
criticised France’s economic performance on Friday in a war of
words with its new Socialist President Francois Hollande over
how to tackle Europe’s deepening debt crisis ahead of a pivotal
election in Greece.
Describing her own country as Europe’s “stabilising anchor
and growth engine”, the centre-right chancellor told German
business leaders that Europe should talk about the growing gap
between the bloc’s two biggest economies and traditional allies.
PARIS (Reuters) – France wants the European Central Bank to have a stronger role in overseeing banks in the single currency bloc as part of a package of urgent reforms to increase financial stability in Europe, sources said on Wednesday.
Joint supervision of banks is one of the key issues to be discussed at a European Union leaders summit in late June that will focus on deepening financial and fiscal integration to bring the raging euro zone crisis under control.
PARIS, June 13 (Reuters) – France’s Socialist government is
studying the possibility of providing further state aid to its
struggling automobile sector as part of a broader push to shield
its declining industries from job losses and a wave of factory
In a bid to foster a greater sense of morality in the
economy, the government announced the appointment of regional
representatives to address “economic emergencies” and a salary
cap of 450,000 euros ($560,600) for chief executives of
PARIS (Reuters) – France voted on Sunday in the first round of an election tipped to give the left control of parliament and consolidate President Francois Hollande’s grip on power as he seeks to steer the country through Europe’s debt crisis.
At stake in the vote for the 577-seat National Assembly, the lower house of parliament, is the new Socialist leader’s ability to rule unfettered as he prepares budget adjustments in Europe’s second-biggest economy, including possible spending cuts.
PARIS (Reuters) – The use of the euro zone’s future ESM rescue fund to directly recapitalise struggling Spanish banks would mean imposing conditionality in terms of banking supervision, not economic reforms, French Finance Minister Pierre Moscovici said on Wednesday.
Moscovici, who is due to meet his Spanish counterpart Luis de Guindos later on Wednesday, said the euro zone’s existing EFSF bailout fund could also be used if aid were urgently required in the short term, before the ESM takes effect later this year.
BERLIN/PARIS, June 3 (Reuters) – When Jean-Claude Trichet
called last June for the creation of a European finance ministry
with power over national budgets, the idea seemed fanciful, a
distant dream that would take years or even decades to realise,
if it ever came to be.
One year later, with the euro zone’s debt crisis threatening
to tear the bloc apart, Germany is pushing its partners for
precisely the kind of giant leap forward in fiscal integration
that the now-departed European Central Bank president had in
PARIS (Reuters) – France’s new Socialist government is refusing to back Germany’s candidate for the influential role of chairman of euro zone finance ministers amid differences with Berlin over joint euro zone bonds and bank recapitalisation.
Senior members of President Francois Hollande’s government have signalled their reluctance to see German Finance Minister Wolfgang Schaeuble, an outspoken advocate of austerity, take charge of the Eurogroup as Paris pushes for a change of policy.
PARIS, May 31 (Reuters) – French consumer spending rebounded
more strongly than expected in April despite rising
unemployment, as higher energy spending due to unseasonably cold
weather more than compensated for a decline in manufacturing
With France’s jobless rate at a near 13-year high and
rising, analysts say that household spending – the motor of
France’s 2 trillion euro economy – was still likely to cool in
the coming months.