French President François Hollande has been meeting with the heads of the World Bank, IMF, and other top economic bodies at the OECD headquarters in Paris.
It comes at a time when Hollande is attempting to lead the eurozone towards a more growth-led response to the financial crisis than the current austerity-dominated approach. He is having trouble convincing France’s major partner Germany and its leader Angela Merkel.
“The eurozone is on the point of coming out of the crisis of uncertainty and instability, but we are not at the end of the road yet. We need mechanisms, rules, and above all, action,” said Hollande.
Everyone here then joins Angela Merkel for talks on Tuesday in Berlin as the laborious process of dragging the euro back from the brink continues.
France’s share of the global market has fallen from 6.2% in 1990 to 3.6% today, and to arrest that decline Hollande has promised to restore competitiveness, and shift part of the tax burden away from employers onto employees.
Copyright © 2014 euronewsMore about:
- 1The effects of the Bretton Woods Agreement 70 years on
- 2Losses at Credit Suisse after US tax settlement
- 3US consumer prices increase as petrol price rises
- 4Farnborough: Textron Scorpion budget military jet aimed at cash-strapped governments
- 5Ad agency Publicis says sales target ‘very difficult’ to meet
- 1More sanctions against Russia, massive job cuts at Microsoft and ‘cheap’ warplane
- 2Farnborough: Textron Scorpion budget military jet aimed at cash-strapped governments
- 3Can Malaysia Airlines survive this latest tragedy?
- 4Microsoft to cut 18,000 jobs to remove Nokia duplication
- 5Liberty Global buys stake in UK broadcaster ITV
Wires > Business
- 11:47 CET TalkTalk attracts 185,000 new customers to its family TV offer
- 11:36 CET Bank of Spain sees GDP growth picking up to 2 percent in 2015
- 11:31 CET Daimler second-quarter profit boosted by new models
- 11:27 CET UK regulator starts prosecution against currency trader Boakes
- 11:13 CET NY Fed found serious problems at Deutsche Bank’s U.S. arms – source
- 11:05 CET Strong fourth quarter boosts UK engineer Renishaw
- 10:50 CET UK’s Metro Bank ramps up lending to challenge bigger rivals
- 10:47 CET FTSE flat, Capita gains on strong results