Arab Today, arab today eurozones divisions laid bare over dinner in florence
Last Updated : GMT 17:09:08
Arab Today, arab today
Arab Today, arab today

Eurozone's divisions laid bare over dinner in Florence

Arab Today, arab today

Arab Today, arab today Eurozone's divisions laid bare over dinner in Florence

German Chancellor Angela Merkel (L)
Florence - AFP

The eurozone's deep divisions were set to be given an airing here on Thursday as Italian Prime Minister hosted German Chancellor Angela Merkel days before crucial elections in Greece.
Hours after the European Central Bank launched a huge bond buying scheme aimed at staving off the spectre of deflation haunting continental Europe, Renzi and Merkel sat down to dinner in Florence's Palazzo Vecchio ahead of a formal summit meeting on Friday morning.
Renzi has made no secret of his hope that the artistic and architectural splendour of his home town will help sway Europe's most powerful leader in a long-simmering battle over the direction of the single currency bloc's economic policy.
The 40-year-old Italian leader believes the budgetary rigour championed by Merkel's Germany has to be balanced by active measures to revitalise the vast eurozone economy, parts of which are mired in recession.
The ECB's dramatic intervention on capital markets was welcomed across the political spectrum in Italy, which stands to receive a substantial boost from the weakening of the euro which most economists expect to follow.
In contrast, the central bank's action has provoked 'printing money' misgivings in Germany and Merkel used a speech at Davos earlier on Thursday to warn that the availability of cheaper financing should not deflect debt-stricken governments from addressing their countries' structural economic woes.
"Europe continues to be confronted by great challenges. We have often talked about the debt crisis... we have this somewhat under control but we are not out of the woods yet," Merkel said.
Renzi, a former mayor of Florence, used an interview in the Wall Street Journal this week to warn Germany that it had to seek common ground with its neighbours and partners in the single currency.
"Germany against the rest of the world—this could be a mistake," he told the American financial daily.
The debate over the eurozone's future is being played out against uncertainty over whether Greece will be part of the bloc for much longer.
Most analysts say Greece will most likely stay but Alexis Tsipras, head of the Syriza party tipped to win Sunday's vote, has vowed to ditch EU-imposed  austerity measures and seek better terms on the debt the country inherited from two huge international bailouts.
- Mother Merkel and little Matteo -
Despite their differences, Merkel, 60, and an Italian premier young enough to be her son, do appear to have a good personal relationship with the elder stateswoman frequently praising her younger colleague for his efforts to shake up Italy's labour market, administration, judiciary and electoral system.
Earlier this month, Renzi said in an interview that he hoped dinner in the 14th Century Palazzo Vecchio, a tour of the world famous Uffizi Gallery and a private viewing of Michelangelo's David would help overcome differences between him and the Chancellor, who is a fan of almost everything Italian except their approach to fiscal questions.
"Dostoyevsky used to say that beauty would save the world. Let's see if it can save Europe too," Renzi told La Nazione.
Merkel insists good housekeeping is the only way forward for Europe.
"Some people accuse us of being too tight with our money but let me remind you that Germany has a massive demographic challenge," she said in Davos.
"More than six million people will be lost to our market because they are retired. If we don't keep our debts down then we will leave a very heavy burden to the next generation.... This would be irresponsible."

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozones divisions laid bare over dinner in florence Arab Today, arab today eurozones divisions laid bare over dinner in florence

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozones divisions laid bare over dinner in florence Arab Today, arab today eurozones divisions laid bare over dinner in florence

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq Kurds in historic independence vote

GMT 15:20 2017 Monday ,25 September

Iraq Kurds in historic independence vote
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday