Pressure builds on France's Hollande over EU debt

  • Corrected: FBI says man shot dead while being questioned about Boston bombings

    Corrected: FBI says man shot dead while being questioned about Boston bombings

    Corrected: FBI says man shot dead while being questioned about Boston bombings

    (Corrects spelling of friend in par 8-10 to Khusen Taramov) By Barbara Liston and Mark Hosenball ORLANDO, Fla./WASHINGTON (Reuters) - An FBI agent shot and killed a man of Chechen origin who turned violent while being questioned on Wednesday about his connection to Tamerlan Tsarnaev, one of two Chechen brothers suspected of carrying out the Boston Marathon bombings. A friend of the dead man identified him to local media as 27-year-old Ibragim Todashev, who had previously lived in Boston and

  • France seeks to brand Hezbollah as 'terrorist' group

    France seeks to brand Hezbollah as 'terrorist' group

    France seeks to brand Hezbollah as 'terrorist' group

    France is to call for the military arm of Hezbollah to be added to an EU terror blacklist due to its backing of the Syrian regime, French Foreign Minister Laurent Fabius said Wednesday.

  • Storm shelters few in 'Tornado Alley'

    Storm shelters few in 'Tornado Alley'

    Storm shelters few in 'Tornado Alley'

    Seventy-five percent of the world's tornadoes occur in the United States, yet few people who live in "Tornado Alley" bother with the trouble and expense of a proper shelter from the storms.

  • Major powers urge Assad to commit to peace

    Major powers urge Assad to commit to peace

    Major powers urge Assad to commit to peace

    World powers urged Syrian President Bashar al-Assad to commit to peace but warned that should he fail to negotiate a political transition they would back the opposition's fight for freedom.

  • 'British solider' butchered in suspected Islamist attack

    'British solider' butchered in suspected Islamist attack

    'British solider' butchered in suspected Islamist attack

    A man believed to be a British soldier was brutally murdered by suspected Islamists near a London barracks on Wednesday in an attack Prime Minister David Cameron said appeared to be terror-related.

Pressure is building on president-elect Francois Hollande to stand by France's austerity vows, with Germany's Angela Merkel saying Europe is counting on them to resolve the bloc's debt crisis.

Hollande's first foreign trip as president will be to Berlin next week.

Merkel, in a letter to him that was released by her office, noted that he was assuming power in the European Union's second-largest economy "at a time full of challenges".

"It is up to us to take the necessary decisions for the European Union and the eurozone, to prepare our societies for the future and protect and advance prosperity in a sustainable way," she wrote.

But she also made clear she had no plans to renegotiate the fiscal pact setting tough budgetary rules for EU states that she spearheaded, despite Hollande's call to rework it to do more to foster growth.

On Tuesday, Japan joined those raising concerns about his plans, as Finance Minister Jun Azumi warned Hollande to keep France's fiscal discipline in place.

"We want (France) to do what has been decided so far," Azumi told a regular news conference, according to Dow Jones Newswires.

"I don't know whether Mr Hollande will immediately act on what he has said in heated debates during the election campaign," he said.

"But realistically, I think it is impossible (for European nations) to give up on fiscal-rebuilding efforts."

And a German member of the European Central Bank's board also warned France to honour its fiscal commitments.

"I expect France to implement the fiscal pact unchanged," Joerg Asmussen told the German daily Handelsblatt in an interview published Wednesday.

"In addition, I expect the new government to respect the promise to reduce the public deficit next year below the three-percent (of GDP) mark."

Hollande promised cheering supporters Sunday that he would reopen talks to ensure the EU fiscal pact focused on growth rather than simply imposing deficit-cutting austerity rules.

EU president Herman Van Rompuy announced Tuesday that the bloc's leaders would meet on May 23 for an informal dinner ahead of an EU summit on June 28 and 29 that is expected to focus on growth.

Hollande's transition chief Pierre Moscovici said the Socialist would not give up on his plan for "a European project that is more favourable to growth" and that France's partners would budge.

"We will find a compromise. And I am convinced that things are starting well," Moscovici told RTL radio.

The uncertainty generated by Hollande's election and the political turmoil in Greece, where election gains by hard-left and extreme-right parties stripped the ruling coalition of its majority, have riled the markets.

European stock markets slid and the euro fell on Tuesday, with sentiment dominated by uncertainty about the eurozone.

France's CAC 40 index was down more than three percent in late afternoon trading. The Dow closed off 76.44 points (0.59 percent) at 12,932.09, while the broader S&P 500 fell 5.86 (0.43 percent) to 1,363.72.

And in Tokyo, stocks were 1.74 percent lower on Wednesday afternoon.

But Hollande's victory has not yet sparked the financial chaos that Nicolas Sarkozy warned of during the campaign, with most of the concern focusing on Greece.

France raised 7.98 billion euros ($9.1 billion) in short-term debt Monday, with lower interest rates paid to investors for two of the three maturities offered.

Hollande, who beat Sarkozy Sunday, attended his first official function Tuesday at a World War II commemoration ceremony.

He joined the ousted president in laying a wreath at the Tomb of the Unknown Soldier beneath the Arc de Triomphe in Paris, as France marked the 67th anniversary of the end of World War II in Europe.

The ceremony was a sign of French unity, he said.

"There are issues that unite us all, beyond the person of Nicolas Sarkozy or of me," he said.

Hollande formally takes office on May 15 and shortly thereafter travels to Germany for his meeting with Merkel.

He will then travel to the United States for the G8 summit on May 18 and 19 and a NATO gathering on May 20 and 21.

Hollande's communications director Manuel Valls confirmed Monday that France would use the summit to announce a French troop withdrawal from Afghanistan between now and the end of the year.

Hollande's party must also set off on the campaign trail again in short order for France's June parliamentary elections, when he will hope to secure a ruling majority.

Loading...

Editor’s note:Yahoo! Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

Odd Stories

  • College student snares record long Burmese python near Miami

    College student snares record long Burmese python near Miami

    Reuters - Wed, May 22, 2013
    College student snares record long Burmese python near Miami

    By Barbara Liston ORLANDO, Florida (Reuters) - An 18-foot, 8-inch Burmese python set a record for the longest snake ever captured in South Florida, where the exotic species has taken up residence. College student Jason Leon snared the female python in a rural area southeast of Miami earlier this month, when he saw part of it sticking out from brush along the roadside, said Carli Segelson, a spokeswoman for the state's Fish and Wildlife Commission. ...

  • A gnome grows in Chelsea - at the flower show, that is

    A gnome grows in Chelsea - at the flower show, that is

    Reuters - Tue, May 21, 2013
    A gnome grows in Chelsea - at the flower show, that is

    By Paul Casciato LONDON (Reuters) - Some spectators at London's Chelsea Flower Show wouldn't be caught dead with one in the trunk of their Bentley, but garden gnomes have turned up at the show's 100th edition this year, for charity. The Royal Horticultural Society (RHS), which runs Chelsea in the grounds of the Christopher Wren-built Royal Hospital Chelsea, has lifted a ban on the ceramic figures with floppy hats and beards in order to raise funds for an RHS charity that supports the use of

  • Marijuana waste helps turn pot-eating pigs into tasty pork roast

    Marijuana waste helps turn pot-eating pigs into tasty pork roast

    Reuters - Tue, May 21, 2013
    Marijuana waste helps turn pot-eating pigs into tasty pork roast

    By Jonathan Kaminsky OLYMPIA, Washington (Reuters) - With Washington state about to embark on a first-of-its-kind legal market for recreational marijuana, the budding ranks of new cannabis growers face a quandary over what to do with the excess stems, roots and leaves from their plants. Susannah Gross, who owns a five-acre farm north of Seattle, is part of a group experimenting with a solution that seems to make the most of marijuana's appetite-enhancing properties - turning weed waste into pig

  • Jon Stewart's humor a hit with millions of envious Chinese

    Jon Stewart's humor a hit with millions of envious Chinese

    Reuters - Mon, May 20, 2013
    Jon Stewart's humor a hit with millions of envious Chinese

    By Jane Lee SHANGHAI (Reuters) - Humor may not always translate well, but Jon Stewart is picking up millions of fans in China, where his gloves-off political satire is refreshing for many in a country where such criticism is a rarity - especially when directed at their own leaders. A recent segment on North Korea scored over 4 million views on microblogger Sina Weibo, and even stodgy state broadcaster CCTV has used Stewart's "The Daily Show" in a report, though they wouldn't let a Chinese

  • Winning ticket for $590.5 million Powerball lottery sold in Florida

    Winning ticket for $590.5 million Powerball lottery sold in Florida

    Reuters - Mon, May 20, 2013
    Winning ticket for $590.5 million Powerball lottery sold in Florida

    By Brendan O'Brien (Reuters) - A single winning ticket for a record Powerball lottery jackpot worth $590.5 million was sold in Florida, organizers said late on Saturday, but there was no immediate word about who won one of the largest jackpots in U.S. history. The winning numbers from Saturday night's drawing were: 10, 13, 14, 22 and 52, with a Powerball number of 11. The odds of winning were put at 1 in 175 million. The winning ticket was sold at a Publix supermarket in Zephyrhills, a suburb

  • Time matters little to world’s fastest jigsaw puzzle maker VERA Files - The Inbox

    By Maria Feona Imperial, VERA Files Perhaps for breaking a world record, she has already found the answer to every jigsaw puzzle ever made. But Georgina Gil-Lacuna has one more left unresolved: the puzzle of time. And she likes it … Continue reading →

  • Chinese, Taiwanese nationals with computer gadgets held VERA Files - The Inbox

    By LEILANIE ADRIANO, VERA Files LAOAG CITY, Ilocos Norte– At least 40 Chinese and 12 Taiwanese nationals who were found with several electronic and computer gadgets and accessories in a resort in Vigan were rounded up and detained for questioning, … Continue reading →

  • Ramos urges neutral probe of Taiwan incident, reminds Pinoys of Contemplacion case VERA Files - The Inbox

    By Ellen Tordesillas, VERA Files MAKASSAR, Indonesia—Former President Fidel V. Ramos has recommended the creation of a neutral investigation on the May 9 encounter between a Philippine patrol ship and Taiwanese fishing vessel in the disputed maritime boundary that resulted … Continue reading →

  • FVR leads call for reduction of budget for lethal weapons VERA Files - The Inbox

    By Ellen Tordesillas, VERA Files MAKASSAR, Indonesia—Former President Fidel V. Ramos Monday called on rich countries to reduce their budget for deadly weapons and realign resources for public safety, including navigation in the disputed waters in the South China Sea. … Continue reading →

  • Activism in art the Carlos Celdran way VERA Files - The Inbox

    By Matthew Reysio-Cruz, VERA Files The whole nation wondered who he was. Sporting a black overcoat and top hat, performer and tourist guide Carlos Celdran stood before a group of bishops at the Manila Cathedral in September 2010 holding up … Continue reading →

POLL
Loading...
Poll Choice Options