Merkel, Hollande to meet as eurozone breakup stories gather steam
Tue, 05/15/2012 - 07:27 EDT - Financial Post
President Francois Hollande will spend his first hours as French president huddled in meetings Tuesday with German Chancellor Angela Merkel, underscoring rising concern that Greece is headed out of the euro
The currency battleground in Europe remains on the same front line, but the infighting has strengthened. France wants QE and Germany doesn't. The idea that ECB can produce nirvana by devaluing the euro is ridiculous of course. Problem number one is the eurozone itself. The euro is fatally flawed. Moreover, France's problem is that it is not competitive with Germany and arguably even Spain, not that the Euro is too high.Nonetheless, cries call out for the ECB wizards to fix something that cannot be fixed by monetary policy.
Greece is looking to German Chancellor Angela Merkel to bring round the country’s other creditors after its latest budget proposals snarled efforts to break the standoff over financial aid.
With Greece’s financial safety net expiring on June 30, Prime Minister Alexis Tsipras aims to meet Merkel and French President Francois Hollande on the sidelines of a summit in Brussels on Wednesday. Merkel is willing to sit down with the Greek leader if he requests a meeting, government spokeswoman Christiane Wirtz told reporters in Berlin.
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.
Brussels (AFP) - Greece's new proposals offered to European leaders ahead of a crunch summit Monday offered a ray of hope that a deal to end the country's debt crisis can be struck after five months of deadlock.
Berlin (AFP) - German Chancellor Angela Merkel set strict terms Thursday for easing EU sanctions on Russia as the 28-nation bloc unlocked new aid to help Ukraine overcome its devastating Kremlin-backed revolt.
Prime Minister Stephen Harper joined U.S. President Barack Obama in opposing the plans of some G7 leaders to meet Russian President Vladimir Putin this week, The Canadian Press has learned.
During two days of closed-door G7 leaders’ talks in Brussels, Harper and Obama were firmly aligned against the plans of several fellow leaders to sit down with Putin, a source close to the talks said Thursday.
Harper has consistently urged other countries and Canadian businesses to actively isolate Putin on the world stage.