Prime Minister Jean-Marc Ayrault Tuesday urged the French to rally behind efforts to tackle a “crushing” debt burden after an audit warned of a 43-billion-euro budget hole.
Ayrault, outlining the new Socialist government’s agenda in parliament, also admitted the crisis was “unprecedented” and said debt servicing charges had become untenable.
In Europe, the eurozone crisis still burns and a
Archive for eurozone crisis
Prime Minister Jean-Marc Ayrault Tuesday urged the French to rally behind efforts to tackle a “crushing” debt burden after an audit warned of a 43-billion-euro budget hole.
Ayrault, outlining the new Socialist government’s agenda in parliament, also admitted the crisis was “unprecedented” and said debt servicing charges had become untenable.
In Europe, the eurozone crisis still burns and a
The eurozone crisis widened Wednesday as a diplomat said Cyprus would soon request aid from Russia and EU partners, while Spain battled fears it will need a full debt rescue.
European leaders also faced mounting pressure from G20 partners to restore growth and accelerate integration to end a crisis threatening to tear apart the 17-nation eurozone and undermine the global economy.
In Greece
The entire 17-country Eurozone risks falling into a ‘severe recession’, the Organisation for Economic Co-operation and Development has warned.
Europe is now under mounting pressure to take action to boost growth after the OECD warned that the eurozone crisis has worsened and poses the greatest risk to a recovery for the global economy.
On the eve of a European summit, the head of the Inte
Asian markets and the euro slumped on Monday after voters in France and Greece voted out their ruling parties in a backlash against austerity measures aimed at battling the eurozone crisis.
Adding to the bearish atmosphere was weak jobs data from the United States last week, which had fuelled concerns about recovery in the world’s biggest economy and sent Wall Street sliding.
Tokyo dived
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