Schaeuble Says Germany Will Negotiate With Hollande
The German government will allow a victorious Francois Hollande to “save face” while expecting him to uphold French commitments to Europe’s budget treaty, Finance Minister Wolfgang Schaeuble said.
Schaeuble’s comments are the clearest indication yet that Chancellor Angela Merkel’s government is preparing for a Hollande victory at France’s presidential election on May 6 after publicly backing Nicolas Sarkozy to win a second term. Earlier today, the German government said that diplomatic contact had been made with the Hollande camp.
“We’ve told Mister Hollande that the fiscal pact has been signed and that Europe works along the principle of pacta sunt servanda,” meaning agreements must be kept, Schaeuble said in a speech in the western German city of Cologne today.
“I’ve said that everybody who gets freshly elected into office must be able to save face,” Schaeuble said. “So we will discuss this with Hollande in a very friendly way. But we won’t change our principles.”
Hollande is leading European calls to step back from Germany’s austerity prescription intended to tackle the root of the debt crisis that sprang up in Greece in late 2009. He has said he wants to renegotiate the fiscal pact to focus on growth. Merkel has said the pact won’t be reopened, even as she backs plans for structural reforms to spur economic expansion…
English Mock ITALIAN’s becoming Shepards
Very few people were allowed to attend the birth of Christ, and the Shepards were among them. Better to be a humble and poor shepard than rich and fat and evil Jew or English pirate you slimy limeys!! The Italians are a wonderful people. The English are the curse to mankind and peace and justice. You foul hypocrites of England
AEP -MI6 Launches New Attack on France and Their Housing Bubble while Ignoring the even Bigger English Housing and Derivative Bubble
This is why the English are hated and reviled everywhere in the world, even by right thinking American-Anglosaxons, their sheer and utter moral and intellectual depravity and hypocrisy.
ECB president Mario Draghi calls for binding ‘growth pact’
The president of the European Central Bank (ECB) said it was of “utmost importance” for leaders to impose fiscal discipline but also to generate growth by “facilitating entrepreneurial activities, the start-up of new firms and job creation”.
He echoed demands for a “growth pact” from leaders including the French presidential hopeful, Francois Hollande. But rather than protectionist policies advocated by some, Mr Draghi said his ideal growth pact would be based on free labour markets and structural reforms that would be “agreed collectively, not unlike the fiscal [pact]“.
He said political commitment would be “the most important” part: “Collectively we have to specify the future of the euro; where do we want to be in 10 years’ time?”
But for the moment, the “economic outlook continues to be subject to downside risks”, he warned.
European markets shed earlier gains amid disappointment that Mr Draghi had not indicated that the ECB was ready to offer more support to stem the debt crisis. Spanish and Italian benchmark 10-year bond yields remained high….
Analysis – For Spain, “bad bank” blueprints offer no quick fix
These banks need to be taken into receivership their good assets sold and their bad assets liquidated and the bond holders and shareholders wiped out. Bond holders need to pay like shareholders for making bad investments. Bank stocks are mainly for criminals and greedy usury lovers.
U.K. Home Prices Drop the Most in 1 1/2 Years as Recession Bites
Dracula Draghi’s Traveling Bankster Show Gets Panned by the Sheeple
Hollande Holds Lead Over Sarkozy as French Campaign Wraps Up
Zionist A, Zionist B. Hollande is pure, pure evil. I have followed this fiends career for decades. He is like Kevin Rudd and seems and acts ‘harmless’ and like ‘regular’ guy but Kevin Rudd is a very, very high level satanist and can compete even with the Windsors. From my observation of Hollande he must be very high up in the occult order of France. Simply a wicked man.
Le Pen said it well and truthfully, Hollande is the enemy of France and Sarkozy is the false friend.
Hollande new wife is a virtual whore and will bring great disgrace to France. When a slut like Carla Bruni with her penchant for English penis looks ‘virtuous’ compared to Hollande’s wife, then you know have a really bad one. Women are getting, so so evil these days and out of control. Hollande’s wife’s nickname really irritates me they call her ‘the rottweiler’, slandering a fine and noble German dog breed. I pray all her scandals are aired for the French people to consider like Carla Bruni’s ‘do you like my titties’ foreign language lesson was aired nationally. Given Carla was Mick Jaggers BJ machine, I hope Sarkozy had her checked for STD before he married her and vice versa given Sarkozy lust for the hebrew male ‘arse’.
European Manufacturing, Services Output Shrank Last Month
Euro-region services and manufacturing output contracted more than initially estimated in April, adding to signs of a deepening economic slump.
A euro-area composite index based on a survey of purchasing managers in both industries dropped to 46.7 from 49.1 in March, London-based Markit Economics said today. That’s the fastest rate of decline since October and below an estimate of 47.4 published on April 23. A reading below 50 indicates contraction.
After shrinking in the final three months of 2011, Europe’s economy probably slipped into recession in the first quarter as the region’s worsening debt crisis forced governments from Spain to Italy to step up spending cuts. European Central Bank President Mario Draghi yesterday said the economic outlook has become “more uncert and left open the option of further stimulus after keeping the benchmark interest rate at 1 percent, already a record low.
“It appears that the euro-zone economy is headed for a third successive quarter of gross domestic product contraction,” said Howard Archer, chief European economist at IHS Global Insight in London. “Indeed, there is a growing risk that the rate of euro-zone contraction could actually deepen in the second quarter.”
The euro remained lower against the dollar after the report, putting it on track for its biggest weekly drop in a month. The common currency was at $1.3134 as of 9:59 a.m. London time and has dropped 1 percent since April 27….