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Jun 3, 2012

Europe mulls major step towards “fiscal union”

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
mind.

May 31, 2012

France refuses to back German for Eurogroup job

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.

May 31, 2012

French consumer spending surprises with bounce

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
output.

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.

May 18, 2012

Euro zone market turmoil to last 12-24 months – Schaeuble

PARIS (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 18, 2012

Euro zone market turmoil to last 12-24 months: German finance minister

PARIS (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 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.