Greece will hold new elections after politicians failed to agree a ruling coalition, sending the euro and shares lower, as new French president Francois Hollande meets Germany's Angela Merkel for key first talks.
A small dose of reality has set in for a group of European central bankers: Euro Officials Begin to Weigh Greek Exit as Euro Weakens.
Greece’s possible exit from the euro moved to the center of Europe’s financial-crisis debate, rattling markets as authorities in Athens struggled to form a government.
The BBC reports France's Hollande to lower state pension age to 60
New French president Francois Hollande has unveiled details of a plan to lower the retirement age to 60 for some workers - a key election pledge.
His predecessor, Nicolas Sarkozy, had faced strong opposition when he raised the retirement age by two years to 62.
The move in 2010 sparked weeks of strikes across the country, mainly by public service workers.
Germany's Angela Merkel held last-minute talks Wednesday with French President Francois Hollande before a crucial EU summit but warned she would not budge in her opposition to pooling eurozone debt.In brief statements before the talks here in Paris both leaders made conciliatory gestures, with Hollande indicating he was ready to discuss further integration and Merkel hailing measures to promote eurozone growth.
In what is a surprising warning shot for Merkel's popularity ahead of the September general election in Germany, moments ago the CDU/FDP ruling coalition lost the vote in Lower Saxony to the center-left Social Democratic Party/Greens block by a last minute, one-seat win according to Reuters.
The Netherlands has been one of the staunchest proponents of forced austerity on Greece. However, now that Brussels has demanded the Netherlands hit its fiscal targets, Dutch politicians can't get the task done and the government is poised to collapse. New elections coming up.
The Washington Post reports Dutch prime minister says government austerity talks collapse
Despite being told last week of the successful solution that the politicians of Portugal had procured - and thusly seeing Portuguese bonds and stocks surge in a renewed bluster of hope and faith that all is well again; it seems that, shocker, nothing is fixed. As Reuters reports, Portugal's political crisis re-deepened today after the President rejected a plan to heal a government rift and critics accused him of igniting a "time-bomb' by calling for early elections.
The eurozone crisis is over, French president Francois Hollande said as he sought to reassure Asian investors on a visit to Japan. "What you need to understand here in Japan is that the crisis in Europe is over," he said. "And that we can work together, France and Japan, to open new doors for economic progress."